Question
Matt is age 75. He received $4,000 from an annuity in 2021. He paid $40,000 for that annuity in 2010. The annuity will pay Matt
Matt is age 75. He received $4,000 from an annuity in 2021. He paid $40,000 for that annuity in 2010. The annuity will pay Matt $4,000 a year, for 15 years, starting in 2011. How much of the $4,000 is included in Matts taxable income in 2021?
( ) $0
( ) $4,000
( ) $2,668
( ) $1,332
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
