Tax treatment at the sale or transfer of an annuity by the owner depends on to whom the annuity is being sold or transferred.

Non-Qualified Annuities

Unless transfer is to the existing owner's revocable living trust, a transfer of ownership of a non-qualified annuity will result in taxing any gain in the contract to the existing owner at the time of transfer or sale.

Qualified Annuities

Ownership of an IRA (tax-qualified annuity) may not be transferred or sold.

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