For population 25 years and over in Kite: 1  High school or higher: 63.8%. 2  Bachelor's degree or higher: 3.0%. 3  Graduate or professional degree: 2.0%. 4  Mean travel time to work (commute): 30.5 minutes.
If the annuity is in a Roth IRA, all of the withdrawals will be tax-free as long as youâve had the Roth for five years and are older than 59Â½. Taxes are just one issue to consider when deciding whether or not to convert your annuity into a income stream, however.
How it works. The provision allows retirees age 701/2 and older to donate. up to $100,000 tax free from their IRA each year. Generally, when you take a distribution from your IRA, it is treated as. taxable income. Under this provision, made permanent in. the 2015 federal spending and tax package, those assets. are excluded from income if the distribution is made. directly to charity.