Cost basis on annuity step-up to husband?
wife passed away and had an annuity with a cost basis of 12k
Annuity is now at: 22k
Question:
a. if the husband surrenders the annuity does he have to pay taxes on the 10k gain?
or
b. does he get a step up from his wifes contract?
Thank you
Douglas
Submitted by Douglas Bauerband on Mon, 2022-02-14 15:22