Is there a way to figure what our additional tax would be if we took a payment from an annuity account and decided not to pay it back but keep it as additional income?

[DoninGA]

You could use the TurboTax calculator TaxCaster.  It is currently available for tax year 2023 but will give you a close estimate of taxes owed or a tax refund for 2024.

Go to this TurboTax website for TaxCaster - https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

[Elizabeth M.]

Great thank you so much for the information. I will try it this weekend.