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Asked 2/2/2008

Taxable portion of survivor's annuity

I am receiving $13,884 annually as a survivor annuity, due to the death of my husband (former letter carrier), 4 years ago.At the time of his death, his retirement contributions were $13, 679. There were no contributions left in his accout, but taxes were deducted from his annuity checks while he was alive.

Is my entire annuity taxable or can I calculate a tax exclusion for part of it, using the worksheet on page 24 of the 1040A instruction booklet?

 
 
 
 
Answers

Answer 1/2 - Submitted 7/21/2010

I invested 20,000. in an annuity and am receiving 2024.64 from Met Life. How much is taxable?

 
 

Answer 2/2 - Submitted 7/21/2010

Annuities are federally taxable, but like the basis of IRAs, your contributions to the annuity are not.

 
 
 
 
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