Article Date:
August 2007


Word Count:
406

 

 

Receipt of Check Destroys Tax-Deferred Exchange


You generally think of tax-deferred exchanges in terms of investment real estate. Similar rules exist with respect to insurance contracts.

 

Section 1035(a) states that no gain or loss shall be recognized on the exchange of the following:

 

·

Life insurance for life insurance

·

Life insurance for an endowment insurance contract

·

Life insurance for an annuity contract

·

Endowment insurance for endowment insurance

·

Endowment insurance for an annuity contract

·

An annuity for an annuity

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