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Section 1035 Exchange |
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Section 1035 Exchange The tax-exempt exchange of two annuities or life insurance policies. The annuities exchanged are not assessed capital gains or any other taxes. Section 1035 exchanges allow a policyholder to avoid taxes that would have been levied on the first annuity or policy as long as the second is of equal or greater cost. The IRS only recognizes a Section 1035 exchange as such if the annuities or policies are directly exchanged. Selling one and buying another, for example, does not count. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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