Last paragraph of Page 12

Exclusion limited to cost. If your annuity starting
date is after 1986, the total amount of annuity income that
you can exclude over the years as a recovery of the cost
can't exceed your total cost. Any unrecovered cost at your
(or the last annuitant's) death is allowed as an itemized
deduction on the final return of the decedent.

(I think that's one of the itemized deductions that TCJA suspended, but you can look it up.)