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Deductibility of Annuity Surrender Charge
Tax Question about deductibility of an annuity surrender charge in 2017.
If an annuity is cashed in to buy rental real estate and there is a large surrender charge, can that surrender charge be deducted on:
(1) Schedule A as a misc itemized deduction for 2017, or
(2) Schedule E as an expense to acquire financing to buy rental properties?