Determine who is taxed on the lottery winning below if: (c) Lucky wins the...
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Accounting
Determine who is taxed on the lottery winning below if:
(c) Lucky wins the lottery, but properly elects (see Sec. 451(h)) to be taxed on th elottery winnings in the form of an annuity each year for 20 years. After 2 years of annuity payments, Lucky gives the remaining 18 years of payments to Child.
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