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  3. 11. a taxpayer, age 60 , purchased an annuity for

11. A taxpayer, age 60 , purchased an annuity for $50,000. The annuity pays her...

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11. A taxpayer, age 60 , purchased an annuity for $50,000. The annuity pays her $400 per month for the rest of her life. She received 12 monthly payments this year. How much will she report as taxable income from the annuity this year? $0 $2,066 $4,800 $2,734

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