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29-Oct-2019 20:46

In less than 3 minutes, you’ll see instant annuity quotes from top-rated brands on your screen.We do the work for you by comparing annuities from more than 150 insurance company websites including New York Life, Met Life, Mass Mutual, Nationwide, Pacific Life, Principal, and many others.The basic rules for annuity taxation The first question in evaluating the tax consequences of cashing in an annuity is what you mean by cashing the annuity in.If you mean annuitizing the contract and starting to get regular payments, that's different from taking money out before you annuitize.

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The IRS imposes the same penalties for early withdrawals from annuities that it does for IRAs and retirement accounts.

When you cash in an annuity, you have to be aware of the potential tax consequences.