Inherited Non-Qualified Annuity

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  • peggysioux
    Senior Member
    • Sep 2006
    • 666
    #1

    Inherited Non-Qualified Annuity

    Taxpayer received 1099-R for non-qualified annuity that was a total distribution with code "D1" in box 7. Being this was an inherited annuity there should be no early withdraw penalty applied, correct? Would I input code 4 on form 5329?

    Peggy Sioux
    Tags: None
    • peggysioux
      Senior Member
      • Sep 2006
      • 666
      #2
      Inherited Non-Qualified Annuity

      Originally posted by peggysioux
      Taxpayer received 1099-R for non-qualified annuity that was a total distribution with code "D1" in box 7. Being this was an inherited annuity there should be no early withdraw penalty applied, correct? Would I input code 4 on form 5329?

      Peggy Sioux
      Bumping up hoping to get some feedback.

      Thanks!!

      Peggy Sioux

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        • taxmom34
          Senior Member
          • Nov 2008
          • 732
          #3
          does not apply to modified endowment contracts, so, I would say no penalty and check box 4 on 5329.

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