Hunter retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year.During his years of employment,Hunter contributed $130,000 to the plan on a pre-tax basis.Based on IRS tables,his life expectancy is 260 months.All of the contributions were on a pre-tax basis.This year,Hunter will include what amount in income?
A)$0
B)$6,000
C)$24,000
D)$30,000

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The Answer of Hunter retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year.During his years of employment,Hunter contributed $130,000 to the plan on a pre-tax basis.Based on IRS tables,his life expectancy is 260 months.All of the contributions were on a pre-tax basis.This year,Hunter will include what amount in income?
A)$0
B)$6,000
C)$24,000
D)$30,000

Hunter Retired Last Year and Will Receive Annuity Payments for Life