Inheriting an annuity is great. But what happens if the annuity turns out to be a lousy investment?
The good news is you’re not stuck with it!
That’s right. If you know what you’re doing you can use a Section 1035 tax-free exchange to solve your problem. All it takes is the right information which I’ll provide in my new, free article titled Tax Tips: Mom Dies: Daughter Inherits and Fixes Five Inferior Annuities.
Three ways our fact-filled article can help you:
- You’ll learn about an important IRS private letter ruling. You don’t get many chances to be grateful to the IRS but this is one of them. You see, IRS ruling 201330016 explains how a non-surviving spouse can use a Section 1035 tax-free exchange to upgrade his/her inherited annuities. You’ll get all the facts when you read the full article.
- We’ll explain important Section 1035 basics. Under Section 1035, you don’t recognize gain or loss on the exchange of four kinds of contracts. You’ll learn what they are and how to win the annuity-upgrade game when you read the full article.
- We’ll tell you how to benefit from IRS private rulings. The IRS explains in its “how to audit you, the business taxpayer” manual (Internal Revenue Manual) why the private ruling is important to you. There’s more good news. You don’t have to plow through the IRS audit manual. We do that for you, with a fine-tooth comb, and then pass on vital information that’s of use to you. You’ll find the value of the private ruling and lots more when you read the full article.