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My Fiancee died in 1/17 leaving me his annuity how is this…

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My Fiancee died in 1/17...
My Fiancee died in 1/17 leaving me his annuity how is this taxed &what line do I use on form 1040
Submitted: 1 month ago.Category: Tax
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3/6/2018
Tax Professional: Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional replied 1 month ago
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,181
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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My name is***** will assist you today.

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Tax Professional: Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional replied 1 month ago

Generally a portion, if not all of the Annuity distribution will be taxable and reported on line 16a and 16b of the 1040.

If the annuity was held in a retirement account and funded with pre tax dollars then the full distribution will be taxable.

___

If the annuity was funded with post tax dollars then the portion of the distribution that represents your fiancee's initial contribution will not be taxable.

If you have a statement from the annuity or call the annuity company they may be able to tell you how the account was funded.

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

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Tax Professional: Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional replied 1 month ago

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