Can Annuities Be Cashed Out?

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   David RacichPRO

   Fountain Hills, Arizona

   The owner of the annuity policy can cash out their annuity. Keep in mind that all gain in the policy will be subject to ordinary income tax at your tax bracket. If you’re receiving Social Security income, your annuity distributions will count under the provisional income test, which could result in your benefits being taxed as well. 
   
   

   Answered on May 28, 2013

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