Question
Alecs annuity starting date is after 1986, and he excludes $100 a month ($1,200 a year) under the Simplified Method. The total cost of his
Alecs annuity starting date is after 1986, and he excludes $100 a month ($1,200 a year) under the Simplified Method. The total cost of his annuity is $12,000. His exclusion ends when he has recovered his cost tax free after how many months?
A. 100 months
B. 120 months
C. 150 months
D. 240 months
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
