Annuity income and taxes: Consider qualifications, deferrals, distributions, and more
If you’re an annuity investor—or you’re considering an annuity investment—you probably know the basic pros and cons. Annuities offer guaranteed income, customized plans, and tax-deferred growth, but with complex structures and layers of fees. Your annuity will grow tax deferred—that means you don’t pay any taxes until you take money out. But once you begin to take money out...