taxes on inherited annuities

Question

Mar 9, 2007, 08:37 PM

mobess

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Join Date: Mar 2007

Posts: 1

taxes on inherited annuities

I inherited money from two annuities after my mothers death last year. I have received

1099 form stating the amount that is taxable. AmI required to pay taxes on these ,or is the full value that I received a part of non taxed inheritance?

Answers

Mar 11, 2007, 08:56 PM	#2

AtlantaTaxExpert Senior Tax Expert Reputation: 1,700 Join Date: Feb 2005 Location: Atlanta, Georgia Posts: 14,832	The money you received was tax-deferred, so, yes, it IS taxable as income taxes.

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