I've included details on my question for you.
There may be a need for clarification.
Nationwide is a variable index annuity.
Nationwide variable index annuity is from non-qualified money (post-tax dollars).
Growth is based on the investment index in the stock market.
There was no growth/profit in the investment index Nationwide invested in.
Therefore, I had no growth.
I lost $4,804.44 which Nationwide categorized as surrender charges.
Nationwide | Date | Amount | Taxes | |
Purchased | 4/23/21 | $50,000.00 | $0.00 | |
Withdrawal | 7/12/22 | -$3,500.00 | Non-Taxable Principle |
Withdrawal | 6/27/24 | -$3,255.00 | Non-Taxable Principle |
| | Sub-total | $43,245.00 | | |
Surrender charge | | -$4,804.44 | | |
The net amount received on 9/12/24 | was $38,440.56 | | |
| | | | | |
Net lost | $4,804.44 | | |
Is the $4,804.44 deductible as an investment lost?
If it is deductible, where does it get entered in Turbo-tax?