Can I amortize the principal over my life expectancy?
- posted
5 years ago
Annuity IRS
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- posted
5 years ago
In the simplified method, you amortize the basis over a length of time related to your life expectancy. If the time runs out before your life, you stop deducting the amortized cost. If the other way around, it's an itemized deduction on your final return (still allowed under
2018 law).See IRS publication 575.
-- Arthur Rubin, AFSP, CRTP Brea, CA