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Author Question: On January 1, 1996, Erika Greene purchased a single premium annuity for $15,000 that will pay her ... (Read 31 times)

kellyjaisingh

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On January 1, 1996, Erika Greene purchased a single premium annuity for $15,000 that will pay her $5,000 every year for life beginning on January 1, 2016. Based on actuarial tables published by the IRS, her life expectancy multiple is 10.
a. What is the amount to be excluded Erika's income for 2016?
b. What is the amount to be excluded in Erika's income for the year 2026?


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Marked as best answer by kellyjaisingh on Sep 13, 2020

kescobar@64

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kellyjaisingh

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Reply 2 on: Sep 13, 2020
:D TYSM


Liddy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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