What internal revenue code does a tax deferred annuity fall under?

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1187643

2026-03-14 13:05

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Hello, I recently purchased one and the money you invest is not tax deductible. It is not taxed if it grows in value or generates revenue, within the annuity. When you do start taking money out, it is treated as ordinary taxable income. However you do not pay taxes on the original contribution, just on the gains. This is a simple answer to a complex question-- if you need more details, you need an expert.

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