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Inherited Non-Qualified Annuity

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    #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
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    #2
    Inherited Non-Qualified Annuity

    Originally posted by peggysioux View Post
    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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      #3
      does not apply to modified endowment contracts, so, I would say no penalty and check box 4 on 5329.

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