Randall -You asked "Is the lump sum taxed before/when it is annuitized?"You owe tax on the amounts your receive, as you receive them. Thus, if you receive $100/month payments, you may opt to have a 10% withholding or not, but you will get a 1099 from from the insurer & it will report the total gain received as well as the amount of principle returned in total.All set?PP
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