Talk of The Villages Florida - View Single Post - Inheriting non-spousal annunity
Thread: Inheriting non-spousal annunity
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Old 08-19-2021, 08:25 PM
retiredguy123 retiredguy123 is offline
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Originally Posted by Gigi3000 View Post
The 5 year rule sounds like I keep the SAME annunity and take the $360,000 any time over 5 years. So I could skip a year and not take any? There is no new annunity I need to worry about figuring out?
If you can use the 5 year rule, you could take $72K per year for 5 years, and have a taxable income of $40K each year. That may save you some taxes over the 5 years because of the standard deduction. Then, you would be done with the annuity.