So, whats a 1035 exchange and how does it actually work?
If you're digging into your finances and wondering whats a 1035, you've probably stumbled upon one of the few genuine "gifts" the IRS offers to taxpayers. In the simplest terms, a 1035 exchange is a way to swap one insurance policy or annuity for a new one without having to pay a dime in taxes on the gains you've made. It's named after Section 1035 of the Internal Revenue Code, and it's a pretty big deal if you've got money sitting in a policy that isn't performing the way you want it to. ...