The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Tax Issues on Inherited Annutiy Date:  4/6/2013  7:51 PM
Author:  Wradical Number:  118317 of 127549

I'm late to the discussion, but one thing that isn't clear to me is:
Just what kind of annuity was this?

If it was a 403(b) annuity [quasi-401(k) for governmental or exempt org. employees] then yes, it's eligible to be rolled over to an IRA.

OR if the annuity was held by an IRA, then that should be OK too.
But, as noted earlier, an IRA is not an annuity. And other run of the mill tax-deferred annuities don't necessarily qualify for rollover to an IRA. Although it would be OK to exchange them for another annuity contract in a Section 1035 transaction. (That would be coded 6 in Box 7 of the 1099-R.)

As suggested above, you need to clear that up with the issuer.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us