If I put income from a home sale into an annuity, will I still be forced to pay income taxes?

I just sold my house. If I put the entire amount in an annuity, will I still have to pay income taxes on that money?

Annuities, Income Tax
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June 2017
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If you sell your principal residence in which you have lived for at least two of the last five years and the gain is less than $250,000 (Single, $500,000 for a couple who file taxes jointly), you will qualify for a tax exclusion, regardless of what you do with the net proceeds. If you sell a property in which you have not lived the requisite amount of time, you will owe capital gains tax on any profit. 

Buying an annuity or any other investment with the proceeds of a prior sale creates a new tax basis in the new investment. Annuities generally grow tax deferred as long as the income remains in the annuity contract. Ordinary income tax is due when the owner of the annuity makes a withdrawal or when an annuity is surrendered. The tax is on any positive change in value since the initial purchase. The principal (the tax basis) is not taxed again.

June 2017
June 2017
June 2017
June 2017