Discussion:Inherited Annuities
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| Revision as of 16:23, 7 September 2009 Southparkcpa (Talk | contribs) (The term TOD sho) ← Previous diff |
Current revision Riley2 (Talk | contribs) (Was there a desi) |
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| if not, Kevins point on basis is good however, the annuity company (assuming this is not a 1035) will know the basis. }} | if not, Kevins point on basis is good however, the annuity company (assuming this is not a 1035) will know the basis. }} | ||
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| + | {{ForumReplyPost|UserID=Riley2|Date=8 September 2009|Text=Was there a designated beneficiary? Had the mother reached the age specfied as the annuity starting date? See IRC 72(s) for rules reqarding required pay-outs from a nonqualified annuity.}} | ||
Current revision
Discussion Forum Index --> Advanced Tax Questions --> Inherited Annuities
Discussion Forum Index --> Tax Questions --> Inherited Annuities
| 1 September 2009 | |
| Client inherited annuity from deceased mother's TOD brokerage account. Is there any way to avoid paying tax on the proceeds from "cashing in" the annuity? | |
| 7 September 2009 | |
| OK. Is there any way to keep annuity without "cashing in"? I think not. Client is 50% beneficiary with his brother the beneficiary with 50%. | |
Southparkcpa (talk|edits) said: | 7 September 2009 |
| The term TOD should in fact be not needed here. The annuity has beneficiaries which TRUMP a standard TOD.
Are these qualified annuities (IRA)? If so, you have some options. if not, Kevins point on basis is good however, the annuity company (assuming this is not a 1035) will know the basis. | |
| 8 September 2009 | |
| Was there a designated beneficiary? Had the mother reached the age specfied as the annuity starting date? See IRC 72(s) for rules reqarding required pay-outs from a nonqualified annuity. | |
