1099R box 7 Code 7D

[DONNA ASTON]

I realized that before we posted but getting the info on the instrument and trying to explain that to an 80+ can be difficult as she bought it over 10 years ago. I have seen this before but I also had one from BOA two years ago that was incorrect and had to be fixed.

Breaking Bad definitely put us on the map but no sightings lately!

have a good day

[ddoshan]

ATSMAN: She got ahold of a local rep and he had the annuity dept at Prudential call her. The 1099R according to that dept is correct. She did not withdraw or receive any tangible money into her local bank account. It is the way the instrument is structured. She did not ever receive one in the past because there was never a positive gain whereas this year he explained to her there was thus that portion is taxable. And I would guess any in the future. thanks for all the posts!

I am no Annuity expert as they can be confusing. But if the amounts you showed on your initial post are correct the above does not make any sense to me. Isn't the purpose of an annuity to let it grow tax free until withdrawing any amounts. She had the annuity for 10 years and it never had a positive gain. Things just don't make sense to me.