Client took a "nonperiodic" distribution of 30k from a commercialy purchased annuity. 1099R comes in with 30k gross distribution and 30k taxable. Statement from insurance co shows his "gross contributions" to be 188,230 and client says the value of the sub accounts before he took the 30k was 192,756 so seems to me that his nontaxable return is 29,295 (per TaxBook page13-20 distribution before annuity startd ate). Do you just change the amount reported in the Taxable box to 705? Why did the insurance co not just check the box "taxable amount not detemined" ?
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