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