Is annual distribution taxable as unearned income
I'm buried in tax stuff, and I have a question.
To USAA-insured folks:
Is the Annual Subscriber Account distribution taxable as unearned income? Now that they're throwing the senior bonus my way also, it's beginning to look like real money. Somewhere way back in my memory there is a little noise that says this is a transfer of asset that already has my name on it, therefore not taxed. But I may just be wishfully dreaming this.
Does anyone know?
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."