SPIA and Non-qualified Money | Ed Slott and Company, LLC

SPIA and Non-qualified Money

I know generally it is about IRA money. But how will penalty work on using a NQ money inside a SPIA under the age 59.5-

A pro rated amount of each year's payments would be non taxable as shown on the 1099R. The insurance company will compute the breakdown based on estimated earnings over the period of the annuity.

 

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