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| Subject: pre 8/14/82 annuity | Date: 1/23/2008 9:28 PM | |
| Author: kmk2006 | Number: 97984 of 126011 | |
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I was reading that if I have an annuity contract the contributions prior to 8/14/82 are able to be removed on a fifo basis. My question is I also saw I can exchange the contract for a new one and maintain this option even though the contract will be as of 08. How do i do this on my taxes if I remove the basis? Example is. 200k contribution 8/1/81 current value 700k growth is 520k so i can remove 200k and no taxes correct? Even if I exchange the contract? |
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