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Financial Planning / Tax Strategies
|Subject: Re: Term Certain Annuitization - Inherited Annui||Date: 9/20/2012 10:56 PM|
|Author: BaumgrenzeJohn||Number: 116642 of 125423|
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,
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