topic Annuity ownership transfer in Get your taxes done using TurboTax

Annuity ownership transfer

kathy19 — Tue, 10 Feb 2026 09:58:28 GMT

If the ownership of a non-qualfied annuity is transferred to the spouse is that a taxable event? Not divorcing.

Re: Annuity ownership transfer

Mike9241 — Wed, 17 Jan 2024 03:22:34 GMT

If a non-qualified annuity is transferred to a spouse, it is not considered a taxable event. The annuity maintains its tax-deferred status, and the spouse will pay income taxes on the portion of each payment attributed to profits.

a gift tax is required if your spouse is not a U.S. citizen and the total gifts you made to your spouse during the year exceed $175,000.

Turbotax does not do gift tax returns. the gift is based on the value of the annuity.

Re: Annuity ownership transfer

kathy19 — Wed, 17 Jan 2024 04:28:27 GMT

Thank you! Among sites I visited you are the only one to state this.