[quote=anonymous]

  Start by taking a fact finder and go from there.

[quote=joedabrkr] [quote=Spaceman Spiff]Hey Bobby - take the towel off of your head.  We don't think like that in this country.  You've been here for what, a week, and you're bashing someone who has been here for years?  BTW if you think that BL said anything about all dollars being taxed at the highest tax bracket you need to take a reading comprehension class.  Do youself a favor and don't speak until spoken to.  Maybe someday you'll be as good as BL.[/quote]
This is only his most recent incarnation Spiffy.....
[/quote]

...yeah...I thought I recognized this one early on...fairly intelligent, but needs a refresher in common courtesy 101...welcome back, Dirk!

[quote=Spaceman Spiff]Hey Bobby - take the towel off of your head.  We don't think like that in this country.  You've been here for what, a week, and you're bashing someone who has been here for years?  BTW if you think that BL said anything about all dollars being taxed at the highest tax bracket you need to take a reading comprehension class.  Do youself a favor and don't speak until spoken to.  Maybe someday you'll be as good as BL.[/quote]

It's not a towel. It's a sheet. I'm a sheethead.

Bobby hoe. Not a hockey playa, you are from the other side of town.

THe actual answer to this problem lies in an earlier post, but was quickly ignored.  It is not the 1035 exchange, but the 1031 EXCHANGE.

This allows a "like kind" exchange, even on retirement accounts and so you should be able to transfer this over without incurring any kind of penalties at all. All the taxation is deferred.

http://en.wikipedia.org/wiki/1031_Exchange

[quote=awesome]

THe actual answer to this problem lies in an earlier post, but was quickly ignored.  It is not the 1035 exchange, but the 1031 EXCHANGE.

This allows a "like kind" exchange, even on retirement accounts and so you should be able to transfer this over without incurring any kind of penalties at all. All the taxation is deferred.

http://en.wikipedia.org/wiki/1031_Exchange

[/quote]

Ummm.....no.

I'm a newbie, fire away!

I was wrong. 1035 Exchange is correct... **Smile**

1031’s are generally used to postpone paying taxes on real estate gains. For example, you invest $50K in a plot of land, five years later you sell that land for $200K, and put that $200K into an apartment building (within the allotted time frame). The tax on that $150K gain is not due until you sell the apartment building, IF you don’t do another 1031 and prolong the delay.

Awesome:  a 1035 exchange, which can be done at any time during the annuity contract, will continue to defer the taxation on the gain in the contract, but there could still be substantial penalties from the existing contract for witdrawing during the surrender period.

1031 exchanges are for "real" property not insurance contracts.  They can be a very good way to defer gains of appreciated commercial properties if done correctly. 

[quote=awesome]I’m a newbie, fire away!

I was wrong. 1035 Exchange is correct... **Smile**[/quote]

...thanks for the laughs...

Can’t you just take the money from the real estate or the annuity and put it in a time-share and not pay any taxes or penalties? I went to this seminar at the beach recently…