Message Font: Serif | Sans-Serif
No. of Recommendations: 1
If an annuity is set up by an employer today, and cannot be used/withdrawn until it 'matures' to a certain value 5 years down the road, can the employer issue a 1099 to an employee - - expecting the employee to pay taxes on end value ($100K) of the annuity NOW, when the employee is not even to be used until 5 years from now??

Anyone with a typewriter and blank forms can issue a 1099. I suggest you ask the issuer what the basis of the 1099 is.

Phil Marti
VITA Volunteer
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.