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Author: peppermintpatty Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19414  
Subject: Re: Annuities Not So Hot Date: 8/22/2000 10:05 PM
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Pixy -

If an annuity owner makes regular withdrawals from a non-qualified tax-deferred annuity, he/she will take "gain" before basis (LIFO basis), however if he/she converts, in whole or in part, into an immediate annuity, he/she will receive some basis with every payment.

I know this won't change in the income received from ordinary income into capital gains, but it can help to minimize the total taxable amount somewhat...

PP
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