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please show all the work 2.) Martha owns a qualified annuity that cost $100,000. The annuity is to pay Martha $850 per month for life
please show all the work
2.) Martha owns a qualified annuity that cost $100,000. The annuity is to pay Martha $850 per month for life after she reaches age 66. Martha turns 66 on July 5, 2019. She receives her first payment on August 1, 2019. a. How much gross income does Martha have from the annuity payments she receives in 2019? Insusian louongine nildo 15 216 699 vino b. After receiving her payment on September 1, 2031 Martha unexpectedly passes away. How does Martha's executor account for the annuity on the final return? C. Assume Martha's passing doesn't occur until October 24, 2043. How does the executor of Martha's estate account for the annuity on the final return? 2.) Martha owns a qualified annuity that cost $100,000. The annuity is to pay Martha $850 per month for life after she reaches age 66. Martha turns 66 on July 5, 2019. She receives her first payment on August 1, 2019. a. How much gross income does Martha have from the annuity payments she receives in 2019? Insusian louongine nildo 15 216 699 vino b. After receiving her payment on September 1, 2031 Martha unexpectedly passes away. How does Martha's executor account for the annuity on the final return? C. Assume Martha's passing doesn't occur until October 24, 2043. How does the executor of Martha's estate account for the annuity on the final returnStep by Step Solution
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