Roth Conversion of Annuity
When converting an IRA annuity to a Roth, is the taxable amount of the conversion the current accumulation value of the annuity or the cash surrender value of the annuity?
When converting an IRA annuity to a Roth, is the taxable amount of the conversion the current accumulation value of the annuity or the cash surrender value of the annuity?
Permalink Submitted by Al Fry on Wed, 2009-07-01 16:35
It is the Fair Market Value (FMV) of the annuity. The carrier should be able to provide that information to you, as it could be quite different from either value.