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| *Loan,banking and credit>>>deferred tax |
How is a single premium deferred annuity taxed by the IRS? |
The annuity is nonqualified fixed annuity with a 7 year term which will expire in November of this year. Is there a way to spread taxes into a number of years? The money is taxed only when dispersed to you. (or when it is made available) Perhaps the annuity could be spread out over a longer pay out. See if you can roll it over...or something creative with your broker like putting it into another financial instrument. Otherwise you pay the tax on the money as it is made available to you One of the following IRS guidelines should help you: http://www.irs.gov/pub/irs-pdf/p575.pdf... http://www.irs.gov/pub/irs-pdf/p590.pdf... http://www.irs.gov/pub/irs-fill/f5329.pd... http://www.irs.gov/pub/irs-pdf/i5329.pdf... |
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