FARM BUSINESS NEWS
Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Fri Sep 13, 2013 08:22 AM CDT

DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen LLP in New Ulm and Minneapolis, Minn., a former president of the Minnesota Society of CPAs and a national authority on agricultural taxation. He writes for both DTN and our sister publication, The Progressive Farmer. To pose questions for upcoming columns, email AskAndy@dtn.com.

Question:

I inherited an annuity my mother purchased inside of an IRA. All of the proceeds are 100% taxable. Is it better to own annuities outside an IRA, so proceeds are tax-free just like life insurance?

Answer:

An inherited traditional ...

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