Annuities and Taxes
when you sell a deferred annuity, are the taxes considered a capital gain, or ordinary income?
if you know of a decent website explaining annuities, please post the URL. Thanks.
when you sell a deferred annuity, are the taxes considered a capital gain, or ordinary income?
if you know of a decent website explaining annuities, please post the URL. Thanks.
Permalink Submitted by Al Fry on Thu, 2010-01-14 21:47
I take it when you say “sell a deferred annuity” (who is buying it?), you mean surrendering the annuity. Gains are ordinary income. Two sites: http://www.logos4me.com/Annuities.htm and http://www.applebyconsultinginc.com/ fir IRA info.