Taxation of a Non-Qualified Annuity
Taxation of a non-qualified annuity Funding: Qualified annuities are often funded with pre-tax dollars, so all of the funds removed from the annuity will be taxable as ordinary income. Roth IRA annuities are not taxable because they are funded with after-tax money. Distributions: Qualified annuities are mandatory for a Required Minimum Distribution (RMD). Failure to … Read more