Personal Investment & Financial Planning Q`s/ANNUITY QUESTION


Bruce Hi I need your help, my mom is in her 80's and had to remove and close out an Annuity, she removed the total amount. Is there anyway to roll this over.  She received a 1099R with taxable amount, Gross Distribution, State Distribution. Is there something I can do to minimze the amount reported for taxes. She lives in NY State I appreciate your Help, Ken

Since you just emailed me I assume she rolled it out in 2013 and is now looking at the 2013 1099 she just got. If you didn't roll it directly into another annuity at the time you are stuck and the tax is due per the 1099.

The company or the agent might have offered you a different product that an 80yo can roll into and therefore defer the taxes more, and also come up with a prepared plan to help the taxes later. Sometimes it is a little work to hunt for the later years product and they cut the compensation on them too, so parties might be lazy?

Sorry you are stuck. That is the simple answer. My office is in Moonachie if you need furhter or more in-depth input beyond the scope of this forum, let me know

Good luck Ken  

Personal Investment & Financial Planning Q`s

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Bruce Julien


I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.


I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.

BA in Accounting, University of Maryland 1990

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