- Does anyone know how the new variable annuity living benefits work?
- 60 year old disabled widowed. Need fixed income for rest of my life. Is Hartford variable annuity with ryder o?
- what is a wise choice of annuity (fixed or variable) for those under retirement age?
- I Have a Non-Qualified Variable Annuity with a $100K cost basis. It has grown to $143,000. What is taxable?
Does anyone know if collateralizing a fixed or variable annuity to cover a loan causese a taxable event? Thanx
27
May
TaxGuru
May 27, 2010 at 9:48 am
Internal Revenue Code section 72(e)(4) provides that a pledge of any portion of the value of an annuity contract to secure a loan is treated as a distribution under the contract. This assumes the contract qualifies for annuity treatment in the first place. Consult a tax advisor for complete information.