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8. Sam retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year.
8. Sam retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year. During his years of employment, Sam contributed $130,000 to the plan on an after-tax basis. Based on IRS tables, his life expectancy is 260 months. This year, Sam will include what amount in income?
A) 0
B) $6,000
C) $24,000
D) $30,000
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