How to Pay Tax on an Annuity Withdrawal?

Answer An annuity can be a useful savings tool for retirement. Investments in an annuity grow tax deferred. You do not owe taxes on investment gains until they are withdrawn in retirement. In exchange for... Read More »

Top Q&A For: How to Pay Tax on an Annuity Withdrawal

Penalties for Annuity Withdrawal?

While annuity investments are considered long-term transactions that can be part of a larger retirement strategy, opportunities are available to withdraw funds from the account earlier than the min... Read More »

Annuity Fund Withdrawal?

Annuities are insurance products designed and sold by insurance companies that offer tax-deferred savings for retirement. The savings can be used to supplement your retirement income or can be pass... Read More »

What annuity is required for withdrawal?

An "immediate annuity" is designed to provide income withdrawals upon purchase. However, withdrawals are allowed from other types of annuities as well. It's important to know the terms of your cont... Read More »

How to Report an Early Annuity Withdrawal?

Annuities are retirement savings plans providing tax deferred growth on money. The value of distributions are added to income taxes. Additionally, if the annuity owner has not yet reached age 59 1/... Read More »