Kaitlyn purchased a life annuity contract with $450,000 she inherited. She began receiving $2,400 per month on
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Kaitlyn purchased a life annuity contract with $450,000 she inherited. She began receiving $2,400 per month on April 1, 2022 when she was age 60.
How much of each payment received by Kaitlyn is excluded from gross income?
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