Is Money Received from an Annuity Taxable?

Is is Money Received from an Annuity Taxable a hot topic right now? Read the full picture in our dedicated article.

1035 (a) Tax Free Exchange: Allows for a tax free exchange of a Non-Qualified annuity or life insurance contract into a new or pre-existing Non-Qualified annuity. The contract registration must be like-for-like and the transfer must be a trustee-to-trustee exchange. No IRS Form 5498 is generated for this exchange.

Where do I Find my Social Security number on Form 5498?

Form 5498 will list your IRA trustee or issuer’s name, address and federal identification number. Your name, address and Social Security number will also appear on the left side of the form. Box 1 – located on the right side of the form – will list the total amount of contributions you’ve made to a traditional IRA.