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Asked 12/14/2007

Annuity distribution from a deat benefit

My mother passed away recently and i have received a death benefit package from Hartford annuity where she had her contract.

I am going to receive a lump sum payment.Should i have let hartford take out the 25% to cover my tax liability or should i just have tehm send me the intire amount and report the earnings on my personal tax return?

William M.Hall

 
 
 
 
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Answer 1/1 - Submitted 4/6/2010

Have them send you the entire amount so that you can earn interest on the funds until it's time to pay taxes and in case there are any other ways that your taxes effect these funds.

 
 
 
 
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