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Can I defer income tax by buying annuity/insurance ? The money is 401k distribution into an estate. I heard it can be done tax free with 1035 ?
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Doubt the 401K distribution would qualify for that :
A Section 1035 Exchange refers to the replacement of an annuity or life insurance policy for a new one without incurring any tax consequence for the exchange. ... replacing one life insurance policy for another life insurance policy, endowment policy or annuity contract.
Doubt the 401K distribution would qualify for that :
A Section 1035 Exchange refers to the replacement of an annuity or life insurance policy for a new one without incurring any tax consequence for the exchange. ... replacing one life insurance policy for another life insurance policy, endowment policy or annuity contract.
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