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When an annuitant receives liquidation payments, part of the payment is a return of princi

When an annuitant receives liquidation payments, part of the payment is a return of princi

When an annuitant receives liquidation payments, part of the payment is a return of principal and is thus exempt from Federal Income tax. The tax-exempt portion of the payment is calculated using the

  a,Combined ratio
b. Refund ratio
  c.Vested ratio
d. Exclusion ratio
Abhinav 02-Dec-2019

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