Fixed Annuity

No beneficiaries have to pay taxes on nonqualifed fixed annuities?

Annuity established in NY with after-tax dollars for the deceased.

Usually, the interest portion of the annuity is taxable to the recipients – this is called income in respect of a decedent, for example, say the annuity was purchased for $ 1,000 and will pay $ 500/month for 12 months, or a total of $ 6,000. Then, each paying $ 500 is 1 / 6 of ROI (Not taxable) and 5 / 6 in interest (liabilities).

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