I have a TIAA-CREF "Teachers Personal Annuity" (a non-qualified/after tax/variable annuity), and I am almost certain I want to do a 1035 exchange for a "Fidelity Personal Retirement Annuity." I am worried about the 1035 exchange. My cost basis for my Teachers Personal Annuity is $136,500, and I now have $585,000 in it. I am 57 years old, and I made a withdrawal of $3000 at age 49, but I can't imagine that a withdrawal 8 years ago would affect the 1035 exchange. I am kinda scared to do a partial 1035 exchange as they are held under scrutiny by the IRS. Please help me.
Statistics: Posted by toptenn — Mon Apr 01, 2024 11:04 am — Replies 1 — Views 112