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I can't believe the speed of your reply. From the time
I posted my question until your reply was less than 3 min. I am impressed.

I asked about the 10% govt penalty in getting out of an annunity.

You replied, "If you take anything out of your annuity prior to age 59 1/2 that is NOT part of a regular annuity payment (i.e., a simple withdrawal), the first money out will be considered by the IRS as earnings that has not yet been taxed. Those earnings will be taxed and assessed an additional 10% as an early withdrawal penalty as well."

I assume from your reply that there is no 10% when you drop your annunity after age 59 1/2. Is is correct ?

thanks in advance, bw

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