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Annuity in connection with a settlement
June 15, 2023
Q. We have a payment request for an annuity in connection with a settlement. The one of the settlement agreement says; "One check payable to the annuity company in the amount of $XXXX to provide future periodic payments payable to Plaintiff for general, compensatory, and non-economic damages made according to the schedule as follows: $XXXX per month, guaranteed for 10 years only. Is 1099-MISC required to the annuity company or plaintiff? what about the 1099 reportable amount?
A.
(Answered by…
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