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Immediate annuity and taxes
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WOODJ
09-03-2007, 12:52 PM | Post #205763 |
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I know that when I purchase an immediate annuity, say Vanguard's, with funds from a tradional IRA that I pay taxes on the annuity distribution just as I would if I am taking distribution from that IRA.
What I don't know, for sure, is how taxes are due on an immediate annuity purchased with funds from a Roth IRA. I assume that taxes are not due on the distribution from this annuity just like no taxes are due on distributions directly from the Roth. Is this assumption correct.
Thanks.
Jim
Originally posted in thread: 60279
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