|
What Dan meant is that the extra income for the disbursement could raise you income level to the point that your SS benefits could be taxed at a rate up to 85%, depending what this $40K does to your total income level. As to the disbursement being taxed it self, it all depends on what your basis is in this investment. If you don't need the money, it most likely can be transferred in a trutee to trustee exchange to another annuity, and there would be no taxable event on your income.
If you'd like, you can PM me with some details and I can give you more info, as there are some options depending on your specific circumstances.
__________________
______________________________
Dave
1969 911T Coupe
1972 911E Targa
|