Talk of The Villages Florida - View Single Post - Inheriting non-spousal annunity
Thread: Inheriting non-spousal annunity
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Old 08-20-2021, 11:59 AM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by gpk111 View Post
Retired guy: Transferring an annuity is done with a 1035 exchange. That exchange will carry the basis from the prior account. It's up to the owner to make sure that happened correctly. According to OP, the basis was identified, so no problem!?
I agree along as long the owner paid taxes on the $160,000 cost basis.