Do I Owe Taxes on Money I Withdraw From My Annuity?
It depends on whether the annuity is in a taxable account or an IRA, as well as how you choose to take the withdrawals.
I contributed $100,000 to an annuity in 2007, and the account grew to $143,000. I recently withdrew $120,000 to buy a new house. How much of the withdrawal is taxable?