Annuity purchased from tax-deferred results in taxable income, but should not?

Questions and Discussion Relative to Pralana Online's "Build" Features

Last Post by Stuart Matthews 9 months ago

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Sotirios Keros

(@stkeros)

Trusted Member

Joined: 3 years ago

Posts: 42

Topic starter October 14, 2024 2:31 pm

When building an annuity where the source of the funds is a future purchase from a tax-deferred account, it's treating this as taxable distribution, in addition to taxing the payment when I select "100%". I don't think it should be a taxable distribution, right?

It's currently treating it as a scheduled withdrawal with resultant increase to AGI.

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Stuart Matthews

(@smatthews51)

Member Admin

Joined: 5 years ago

Posts: 1078

October 18, 2024 7:15 am

@stkeros Yes, it appears that you are correct on this! We'll investigate and try to get this fixed right away!

Thanks,

Stuart

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