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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
March 19, 2008 at 08:00 PM
The question was: What is the tax treatment on guaranteed lifetime withdrawals or other partial withdrawals and loans made against a variable annuity?
a) Last in, first out, with a 10% tax penalty for withdrawals prior to age 59 1/2
b) First in, last out, with a 10% tax penalty for withdrawals prior to age 59 1/2
c) Last in, first out, with a 10% tax penalty for withdrawals after to age 59 1/2
d) First in, last out, with a 10% tax penalty for withdrawals after to age 59 1/2
The answer is: a). In a variable annuity, the tax treatment on guaranteed lifetime withdrawals or other partial withdrawals and loans is last in, first out, with a 10% tax penalty for withdrawals prior to age 59 1/2 , according to a chart prepared by Jack Kenney, chairman, CEO and founder of Clearwater Financial Marketing, a business unit of InterSecurities, Inc., and an AEGON company. See the chart
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