Problemhunter retired last year and will receive annuity, Ask an Expert

Accounting

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Hunter retired last year and will receive annuity payments for life from his employer's qualified pension plan of $30,000 per year starting this year. During his years of employment, Hunter contributed $130,000 to the plan, and the total expected return based on his life expectancy is $200,000. All of the contributions were on a pre-tax basis. This year, Hunter will include what amount in income?

$-0-
$10,500
$19,500
$30,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164958

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