I inherited one. When I inherited it I moved it to vanguard who later sold it to Transamerica. I'm receiving RMDs over my lifetime. It reports as ordinary income, just like my inherited IRA, but I have fewer investment choices. Unlike my inherited IRA, the annuity has a recorded basis. Actually I had to chase down the basis because while my father was still alive the annuity transferred custodians a few times and got lost. At any rate, the basis turned out to be a relatively small percentage of the account value and it gets distributed at the end. My father paid a fee to set this up. Mine was nowhere near a million dollars though.
Statistics: Posted by catchinup — Thu Mar 14, 2024 9:45 pm — Replies 5 — Views 246