Is Life insurance annuity distribution are they taxable?

Forum|Forum|1 year ago
March 20, 2025
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Is life insurance annuity distributions taxable?

TurboTax Deluxe Online

SharonD007

It depends. If no after-tax contributions were made before the distribution, generally, the entire amount is taxable. When after-tax contributions are made to the annuity, only a portion is usually taxable.

Refer to the TurboTax article When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc. for additional information.

Refer to the TurboTax Help article Where do I enter my 1099-R? for navigation instructions. As you go through the interview, TurboTax will ask you questions about your 1099-R to help determine the taxable portion of your annuity distribution.

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