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Mary, age 67. purchased an annuity that pays her $500 per month for the rest of her life, she paid $70,000 for the annuity with
Mary, age 67. purchased an annuity that pays her $500 per month for the rest of her life, she paid $70,000 for the annuity with post tax dollars. Based on the is simplified annuity tables, How much of each $500 payment will Mary have to include in her gross income for each payment she receives? Rounded to nearest cent? 5333.33 5166.67 $500.00 None, it was purchased with post tax dollars Bill, single, receives $8.500 in wages from a part time job, 511.500 from unemployment benefits during the Covid crisis, and $27,000 in social security benefits in 2020, Compute is adjusted gross income for 2020 58.500 $19,500 124250 $33.500
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