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March 16, 2024
Question

IRA to annnuity

  • March 16, 2024
  • 1 reply
  • 0 views

In completing some estate planning, I (80 yo) took a disbursement from a traditional IRA to purchase a life insurance annuity.  Is this considered a rollover to a qualified retirement account for income tax purposes?

1 reply

DoninGA
Employee
March 16, 2024

No, the insurance policy annuity is not a qualified retirement account for income tax purposes.