To the annuity holder, annuity payments are: A. Fully includable in gross income. B. Similar to life
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Question:
To the annuity holder, annuity payments are:
A. | Fully includable in gross income. | |
B. | Similar to life insurance proceeds in that they are excluded from gross income. | |
C. | First considered to be a tax-free return of the original purchase price. | |
D. | In part a return of the original purchase price and in part taxable income. | |
E. | Revised any time the life expectancy of the annuitant changes. |
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