I Am 58 Yrs Old. Closed Annuity And Am Reinvesting In A Mutual Fund With Another Co. Will I Avoid Tax Burden?
i am 58 yrs old. i closed my annuity account and i am going to reinvest with another company in a mutual fund. will i avoid the tax burden since i closed out account before i am 59 1/2 and 1 am reinvesting within 60 days?
How Do I Avoid The 10% Penalty For Early Withdrawal From A Variable Annuity?
Seventeen years ago my dad set up a variable annuity from Nationwide Insurance for my newborn daughter to help with her college expenses. I was named the custodian (until she is 18), and also the beneficiary. I now want to take that money and use it for her college expenses, but it looks [...]
Is There Any Way To Avoid Paying Taxes On An Early Withdrawal From A Variable Annuity?
I panicked and withdrew my variable commercial annuity in september 2008 from a company that was reportedly going bankrupt. I withdrew the amount before the age of 59 1/2, now I realize I have a HUGE tax penalty. Is there any way to put it back in the annuity without a penalty?