2013 Tax Reference Guide - http://www.jhannuities.com/media/usa/common/multimedia/pdf/TRGFLY.pdf
The non-qualified annuity can avoid current tax on the investment gains if it is held in trust, or if it is acquired by an estate on the death of the owner. Non-qualified annuities held by charities--or those that originated before February 28, 1986--are not subject to capital gains taxes.
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