Assume Joe, the owner of a $150,000 nonqualified annuity, dies before the contract is annuitized. The values are paid to his named beneficiary. Who is responsible for paying the income tax on the contract's growth?
Added by Jose Maria M.
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Joe, the owner of the annuity, has passed away before the contract is annuitized. This means that the annuity has not yet started to make regular payments. Show more…
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