Do you have to pay taxes on annuitys if you are the beneficiary?

Yes, as a beneficiary of an annuity, you may have to pay taxes on the distributions you receive. Generally, the earnings portion of the annuity payments is taxable as ordinary income, while the principal contributions may not be subject to tax. However, the specific tax implications can vary based on the type of annuity and the structure of the payments. It's advisable to consult a tax professional for personalized guidance.