How do you know if an annuity is qualified or nonqualified?
How do you know if an annuity is qualified or nonqualified?
The difference between a qualified and non-qualified annuity is whether the annuity is purchased with pre-tax funds or not. Examples of untaxed, qualified annuities are 401(k) and IRA plans. Non-qualified annuities are purchased with money that’s already been taxed.
