Annuity ownership transfer

[kathy19]

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

[Mike9241 · Accepted solution]

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. 

[kathy19]

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