The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Term Certain Annuitization - Inherited Annui||Date: 9/20/2012 10:56 PM|
|Author: BaumgrenzeJohn||Number: 116642 of 122008|
Thank you IP and Peter,
I tried a bit more web based research. The answers I found did not satisfy me.
I'd like confirmation that when an annuity is annuitized, by the owner or a beneficiary, is not subject to LIFO rules; that each payment is equally part capital and part earnings in the same ratio as the investment, and that the earnings portion is taxable as ordinary income.
Thanks in advance,
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|