On July 1, 2022, Sanjay retires from work and starts to draw on his pension annuity. His payment is $2,000 a month, and he is paid for 6 months. During his employment years, Sanjay contributed $30,000, and his employer contributed $20,000 toward the annuity. His age at retirement is 67. What is Sanjay's exclusion in 2022? (Round intermediate amounts to the nearest cent if necessary.)

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To calculate Sanjays exclusion in 2022 for his pension annuity payments we first ne... View the full answer