Debbie and Harry are 67 and 65 years old and file jointly. Their only sources...
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Accounting
Debbie and Harry are 67 and 65 years old and file jointly. Their only sources of income are $26,000 in taxable interest and $20,000 of Social Security benefits. The taxable amount of their social security benefits is:
$0
$20,000
$17,000
$10,000
$2,000
________
In December 2020 Sally purchased an annuity that pays her $1,000 per month for 16 years. She paid $150,000 for the annuity. Of the $12,000 Sally received in 2021, how much will she include in her gross income?
$9,375
$2,625
$12,000
$3,600
$0
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