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Subject:  Re: Annunity Date:  1/11/2000  9:41 AM
Author:  TMFPixy Number:  17640 of 88786

Greetings, Eyeball390, and welcome. You asked:

<<If i withdraw my annunity before 59 1/2 can this be rolled into an Ira without paying the 10% penailty or income tax?>>

That depends on the annuity. If it's already inside an IRA, then on surrender the net proceeds you receive may be transferred to another IRA free of taxes and penalty. OTOH, it it's just a regular annuity you bought from an agent, then on surrender any gain over your cost will be taxed and penalized. Additionally, none of the net proceeds may be transfered to an IRA.

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