Non Qualified Annuity

Forum|Forum|1 year ago
February 15, 2025
1 reply
0 views

I purchased a non qualified annuity this year and didn’t take any distributions from it. I received a statement showing my growth but didn’t receive a 1099 if any type. Do I still need to report that income on my tax return even though I didn’t get money? If yes, where do I include it? My income is below the threshold I believe as well so do I need to file it at all?

Thank you

Not A Product Question

AnnetteB6

If you did not take any distributions and the non-qualified annuity has not matured, then there is nothing to report on your tax return.

The earnings will grow tax-deferred until the contract matures. Then, when you start receiving payments you will report and pay taxes on the earnings.

For your confirmation, here is a link to the 2024 filing requirements to help you determine whether or not you even need to file a return:

Do I need to file a federal return this year?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"