Question
Lindsey has a bought a $500,000 life annuity. Her life expectancy is 25 years. Her annual payments $30,000 a year. What is her exclusion ratio?
Lindsey has a bought a $500,000 life annuity. Her life expectancy is 25 years. Her annual payments $30,000 a year.
What is her exclusion ratio?
How much of the payment (in dollars) is excluded from tax?
How much of the payment (in dollars) is taxable?
How much will she owe in taxes after her first payment is she is in the 25% tax bracket?
How much will she owe in taxes on the 26th payment?
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Mortgage Ripoffs And Money Savers
Authors: Carolyn Warren
1st Edition
0470097833, 978-0470097830
