Question
As a part of Lorelai's inheritance proceeds, she invested $100,000 in a nonqualified deferred annuity contract from the One Life to Live Insurance Company. Today,
As a part of Lorelai's inheritance proceeds, she invested $100,000 in a nonqualified deferred annuity contract from the One Life to Live Insurance Company. Today, the annuity is worth $106,000. If she withdraws $6,000 from this annuity at this time, how much would she include in gross income?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
