Insurance & Annuities Questions
By Terry Savage
Is this inheriteed annuity payout taxable?
Answered on April 09, 2013
My mother passed away in 2012. As executor of her will, I received a check from Genworth Financial for an annuity/life insurance policy that she had. I took this money and divided it equally between my brother and sister as directed in the will. I recently received a 1099R for this payment. I thought that…
