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6. Three years ago, Taxpayer purchased for $60,00 an annuity, which provides for monthly payments of $300 for Taxpayer's life and upon his death for
6. Three years ago, Taxpayer purchased for $60,00 an annuity, which provides for monthly payments of $300 for Taxpayer's life and upon his death for monthly payments of $300 to Spouse if Spouse has survived Taxpayer. Taxpayer was age 70 and Spouse was age 68 when the annuity was purchased. What gross income amount should Taxpayer and Spouse report on their joint Form 1040 for the current year? A. $7,790 B. 3,600 C. 600 D. E. 810 None of the above answers
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