Is there any place that a surrender charge from an annuity can be deducted.
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Are you sure it wasn't deducted off the reportable distribution amount? You need to look at the paperwork supplied to the T/P.This post is for discussion purposes only and should be verified with other sources before actual use.
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What type of annuity
Was it a variable annuity or a fixed annuity?
Was it a qualified annuity for retirement (IRA, TSA, etc) or just an investment annuity?
SandyComment
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Surrender
They received a 1099-R with total distribution minus interest adjustment. Check amount was total distribution minus the interest adjustment minus the surrender charges.Comment
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Again,
What type of annuity, it might make a difference on the deduction of the surrender charges.
surrender charge is what the insurance company charges for early withdrawal under the contract terms.
SandyComment
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