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Business, 26.02.2021 03:50 ajbrock1004

A taxpayer, age 64, purchases an annuity from an insurance company for $62,000. She is to receive $517 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $6,200 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 $62,000. She is to receive $5...

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