|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/pre-81482-annuity-26313002.aspx
|
||
| Subject: pre 8/14/82 annuity | Date: 1/23/2008 9:28 PM | |
| Author: kmk2006 | Number: 97984 of 120432 | |
|
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? |
||
| Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||