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Question

Annuity beneficiary claim

Forum|Forum|3 years ago
September 28, 2022
1 reply
0 views

My aunt added me as a beneficiary for the annuity. She passed away last month. Do I need to claim it as extra income at the end of the year or is this considered an inherit and no taxes due?

A

Anonymous

Hello Sol24vane,

Thank you for participating in this Ask the Expert event. As to your question, it depends. Generally, when you inherit an annuity you also inherit the tax treatment of the decedent, meaning however it was going to be taxed to your aunt will be the same it will be taxed to you.

Here is a an article that will help shed some more light on the issue for you.

I hope that helps.