Claim annuity on taxes RRS feed

  • Question

  • My husbands father opened an annuity in my husbands name prior to his death. He passed away this past June.  We cashed it out. It was for 10,000 and had approximately 525 interest. When we cashed it out we did have them withhold $250 for federal tax and $50 for state. How do I claim this on our federal tax this year? Any advice would be grateful as I have never dealt with annuities before.  Thank you
    Monday, January 29, 2018 12:34 PM

All replies

  • I'm sorry to say that this forum is not to discuss money issues. This forum is for help with the program Microsoft Money which was discontinued in 2008, but is still in use by many people.

    I would suggest you contact a tax attorney.

    Bob - MSN Mobile

    Monday, January 29, 2018 3:32 PM
  • While this does not involve Microsoft Money, the annuity company would have sent a 1099 that included the withholding. If that was issued to your father-in-laws name, I think you would have to file an income tax return for him to get that money back. For withholding, I think usually you have to send a copy of the 1099 with the return.

    Watch the mail. If you don't get the 1099 by maybe Feb 8, call the annuity company, and ask for another copy.

    Monday, January 29, 2018 4:23 PM