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Annuities Tax Deferred Withdraws
If 200k after-tax dollars are invested in an annuity and it earned $20k at its term, but only $100k is pulled out and the other $120k remains in annuity, how much is taxable income?
For a nonperiodic distribution from a nonqualified annuity, the taxable gains come out first. The distribution of $100k would be a distribution of $20k taxable gains and $80k nontaxable return of investment in the contract. The $120k remaining in the annuity would be all investment in the contract.
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