To calculate taxes MaxiFi needs to know what funds were used to purchase the annuity
- Qualified: Funds from tax-deferred plans, such as a traditional IRA, 401(k), 403(b)
Roth: Funds from a Roth account
Non-Qualified: Funds from other sources, what we call Regular Assets, such as savings or a brokerage account
Note that if the annuity start date is in the future, you must handle the purchase separately: If the annuity is to be purchased with Non-Qualified funds, enter a future Special Expense. If the annuity is to be purchased with Qualified or Roth funds, enter a special withdrawal in the appropriate retirement account.