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How much must marvin include in gross income

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Marty purchased an annuity for $500,000. The annuity is not part of a qualified retirement plan.

The annuity will pay him $6,000 per month for the rest of his life. His life expectancy is 100 months. For each monthly payment, until he recovers his investment, how much must Marvin include in gross income?

Reference no: EM133234024

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