1 Opts In May of Year 1. Leo purchased an annuity contract for $108,000. The annuity was to pay Leo $9,000 on June 30th each year for the remainder of his life, beginning June 30th of Year 1. Leo was 65 years old on June 30th of Year 1. Leo died on August 1" of Year 13 Same facts as above. What would have been the tax consequences in Year 22 if Leo was still alive and received an annuity payment on June 30th of Year 22? Edit View Insert Format Tools Table Same facts as above. What would have been the tax consequences in Year 22 if Leo was still alive and received an annuity payment on June 30th of Year 22? Edit View Insert Format Tools Table 12ptv Paragraph O words 7 G In May of Year 1, Leo purchased an annuity contract for $108,000. The annuity was to pay Leo $9,000 on June 30th each year for the remainder of his life, beginning June 30th of Year 1. Leo was 65 years old on June 30th of Year 1. Leo died on August 1st of Year 13. What are the tax consequences of the annuity payment received by Leo on June 30th of Year 1