Business, 19.09.2020 01:01 jnsoccerboy3121

A taxpayer, age 64, purchases an annuity from an insurance company for $64,000. She is to receive $533 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $6,400 this year, what is the exclusion percentage, and how much is included in her gross income?

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A taxpayer, age 64, purchases an annuity from an insurance company for $64,000. She is to receive $5...

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