Explore the 1,000’s of tax questions answered by professionals.

Back to Personal Tax

QUESTION DETAIL 

Related User

Votes

If the owner of a fixed annuity or an indexed annuity dies, do the beneficiaries have to cash in annuity and pay taxes? It has been my understanding that there is no "Inheritance Taxes" for a beneficiary to pay. Federal tax is required on the amount withdrawn in any year? Is this correct?


ANSWER

-or-

Thomas Graham iii, CPA, CFE

Oklahoma

7 yrs experience

  • Currently 5.0000/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
78 Ans.