How Do Annuities Get Taxed?

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   David RacichPRO

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   Annuities that generate a gain, cash values beyond the original basis or contributions are taxed as ordinary income tax rates of the owner of the annuity. Although an annuity can bypass probate, it may be subject to federal or state of residence estate tax depending on the size of the estate.   
    

   Answered on May 21, 2013

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