nonqualified annuity

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  • Unregistered
    #1

    nonqualified annuity

    Client contributed 4500 to nonqualified annuity. This is a nondeductible contribution. Does it go on the Form 8606 as such (or anywhere else for that matter)?? I'm thinking no, just want to make sure.
    Tags: None
    • Matt Sova
      Senior Member
      • Jun 2005
      • 645
      #2
      Nope

      Annuities do not get 8606 treatment. When you withdraw money from an annuity the first thing to come out is the income. Basis comes out last, and the annuity company tracks that for you.
      I would put a favorite quote in here, but it would get me banned from the board.

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