1099b ?
My father passed in 2019. He left me his annuity that produced a small ck every month. It was tax free money. Last summer I met with my advisor we moved $50,000 into a different type of fund that would produce more income. That money is needed to help pay car pymt , insurance,etc. He did tell me that it would produce a 1099 every year because it is producing income. Which I understood. Now I got a bunch of 1099s and one was a 1099b. I do my taxes myself online every year. When I put in the info for this 1099b my taxes it said I would owe something like $13000+. I am hoping I am doing something wrong. It seems I am paying taxes on the $50,000. I can't afford that. All I wanted to do is increase my income as 8 get closer to retirement. I dont know if I am entering something wrong,doing something wrong. All I did was reinvest it. I did not get any lump some cash payout. Help!
