Business, 21.03.2020 07:40 will834

A taxpayer, age 64, purchases an annuity from an insurance company for $82,000. She is to receive $683 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $8,200 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 $82,000. She is to receive $6...

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