CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN: 9780357110362
Author: Murphy
Publisher: CENGAGE L
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Lucy, age 68, retires and receives a $1,500 per month annuity from her employer's qualified pension plan at Pinnacle Industries. Lucy made $90,000 of after-tax contributions to the plan before retirement. Under the simplified method, Lucy's number of anticipated payments is 210. What is the amount includible in income in the first year of withdrawals assuming 12 monthly payments?
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