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Which of the following statements about annuity contracts is true? Multiple Choice Payments received from an annuity contract are fully taxable as capital gain. Payments

Which of the following statements about annuity contracts is true?

Multiple Choice

Payments received from an annuity contract are fully taxable as capital gain.

Payments received from an annuity contract are fully taxable as ordinary income.

Payments received from an annuity contract are tax

-

exempt.

Annuity contracts provide a fixed income stream for a future period of time.

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