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Phil retired in January 2021 at age 63. His pension is $1,500 per month and this year he received eleven payments. Phils life expectancy is
Phil retired in January 2021 at age 63. His pension is $1,500 per month and this year he received eleven payments. Phil’s life expectancy is 21 years. He received the following 1099-R.
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a. Calculate Phil's taxable income from the annuity in the current year, using the general rule.
In your computations round any division to five decimal places. Round your final answer to the nearest dollar.
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