On September 23, 2018, Mary Jones bought an annuity contract for ($ 22,050) that will give her
Question:
On September 23, 2018, Mary Jones bought an annuity contract for \(\$ 22,050\) that will give her \(\$ 125\) a month for life, beginning October 30. Mary is 61 years old. Determine the exclusion ratio and the amount of the annuity to be included in Mary Jones's 2018 gross income.
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Related Book For 
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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