TITLE 26. INTERNAL REVENUE CODE § 72. Annuities; certain proceeds of endowment and life insurance contracts. [Effective until December 27, 2025], 26 USCS § 72
Summary
(a) General rules for annuities.
(1) Income inclusion. Except as otherwise provided in this chapter [26 USCS §§ 1 et seq.], gross income includes any amount received as an annuity (whether for a period certain or during one or more lives) under an annuity, endowment, or life insurance contract.
(2) Partial annuitization. If any amount is received as an annuity for a period of 10 years or more or during one or more lives under any portion of an annuity, endowment, or life insurance contract—