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How much of his unrecovered cost can his executor deduct

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Question - When Chuck was 70 years old, he purchased an annuity contract for $90,000. The contract was to pay $6,200 per year over his remaining life. The life expectancy for someone who is 70 years old is 16 years. If Chuck dies after receiving only one annuity payment, how much of his unrecovered cost can his executor deduct on his final tax return?

Reference no: EM133118436

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