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Annuities tax withdrawal question

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S

steve_virgilio@

Junior Member
What is the name of your state? Ohio

My grandmother withdrew from her annuities account in 2006, and we are trying to figure out if she needs to file taxes on that or not. She has not filed taxes on them in the past. Any advice would be greatly appreciated.

Thanks!
 


T

tranquility

Senior Member
An annuity is not an annuity is not an annuity. The term is used for a time contract and each contract has different characteristics. It is impossible to tell without viewing the contract. Also, the specific facts of the amounts and other income of the aunt are relevant too.

No one on the list can answer the question.
 
LdiJ

LdiJ

Senior Member
tranquility said:
An annuity is not an annuity is not an annuity. The term is used for a time contract and each contract has different characteristics. It is impossible to tell without viewing the contract. Also, the specific facts of the amounts and other income of the aunt are relevant too.

No one on the list can answer the question.
Click to expand...
I agree. However, often the 1099 issued for the withdrawal from the annuity will indicate what portion, if any, of the withhdrawal is taxable.
 
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