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Shoshan, age 63, retired and began receiving retirement benefits on January 1, 2021. The benefits will be paid for the joint lives of Shoshan and
Shoshan, age 63, retired and began receiving retirement benefits on January 1, 2021. The benefits will be paid for the joint lives of Shoshan and his wife, Aviva, age 67. Shoshan had $36,000 in after-tax contributions to his qualified plan and had received no distributions prior to retirement.
How much will Shoshan and Aviva be able to exclude from each of the annuity payments?
How much will Shoshan and Aviva be able to exclude from each of the annuity payments?
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The exclusion ratio is used to determine the taxable portion of an annuity payment The exclusion rat...
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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
