How Can We Help?
< Back
You are here:
Print

annuity for sepp

Posted
Last Updated On
Byjohn

L1: annuity for seppI have found a favorable cd type annuity that I would like to use for an investment and withdraw under 72t. I am being told that the insurance company may not be willing to code the 1099 to reflect this. What should I do? john2002-03-22 17:49, By: John, IP: [127.0.0.1]
L2: RE: annuity for seppFrom our FAQQ. How is the exemption to the 10% tax claimed? A. From the IRS web site … “The 10% tax is reported on Form 5329 ( Form Instructions ) . However, you do not have to file Form 5329 if your Form 1099-R shows a distribution code 1 in Box 7. In this instance, you need only enter the 10% tax on line 53 of your Form 1040. If you meet one of the exceptions to the tax, and your Form 1099-R does not have a distribution code 2, 3 or 4 in Box 7, or if the code shown is incorrect, you must file Form 5329 to claim the exception.” 2002-03-23 07:41, By: Gfw, IP: [127.0.0.1]

Table of Contents