Liz Anya, 63 invested $20,000 in an annuity in 2022. The annuity will pay her $500 per month for 48 months. She started receiving these monthly payments in September of 2022 and received 12 monthly payments of $500 each in 2023. Her 1099-R reports $6,000 for 2023. 

What is the taxable amount?

Answer rating: 100% (QA)

To determine the taxable amount of Liz Anyas annuity payments we need to consider the tax treatment ... View the full answer