Q. I know you are not a CPA but I thought this has probably been asked before and that you might have an answer. Are annuity fees tax-deductible on traditional IRAs?
Q. I retired 2+ years ago under FERS with a substantial TSP account that I have not touched. I am looking at purchasing an annuity through TSP versus regular payments based on life expectancy (essentially the IRS required minimum withdrawals that I must start next year). I understand how the RMD is taxed. How will the annuity be taxed? Is there a source that explains the calculation?