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Business, 09.02.2021 01:00 xcoder3957

A taxpayer, age 64, purchases an annuity from an insurance company for $80,000. She is to receive $667 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $8,000 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 $80,000. She is to receive $6...
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