If an Annuitant, Whose Annuity Starting Date Was January 1

question 70

True/False

If an annuitant, whose annuity starting date was January 1, 2001, dies before recovering his or her investment in the annuity, any unrecovered investment is recognized as a loss on the annuitant's tax return for the year of death.

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Definitions:

Extension

The act of straightening or stretching out a body part, or the process of increasing the length or duration of something.

Action Required

A directive indicating that some specific tasks or responses are necessary to proceed further or resolve a situation.

Date

generally refers to a specific day of the calendar noted for particular events or meetings, but can also mean the act of going out with someone in whom one has a romantic interest.

Time of Call

Refers to the specific moment or duration when a call, often regarding an appointment or meeting, is made or received.