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What Is A 1035 Exchange?

January 24, 2024 by Ahmed Ali

What Is A 1035 Exchange? 1035 Exchanges The Internal Revenue Service allows you to exchange an insurance policy that you own for a new life insurance policy insuring the same person without paying tax on the investment gains earned on the original contract. … You cannot, however, exchange an annuity contract for a life insurance

What Is A Qualified 1035 Exchange?

January 24, 2024 by Ahmed Ali

What Is A Qualified 1035 Exchange? A 1035 exchange is a provision in the Internal Revenue Service (IRS) code allowing for a tax-free transfer of an existing annuity contract, life insurance policy, long-term care product, or endowment for another one of like kind. What is not allowable in a 1035 exchange? So what is not