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On April 1,2015,Martha,age 67,begins Receiving Payments of $3,000 Monthly from Her

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On April 1,2015,Martha,age 67,begins receiving payments of $3,000 monthly from her employer's qualified retirement plan.She had contributed $90,000 to the plan in after-tax dollars.The anticipated number of payments is 210.Using the simplified method,how much of the payments are taxable in 2015?

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Definitions:

Short-Term Loans

Loans that are scheduled to be repaid in less than a year, often used for working capital or emergency financing needs.

Dividend Payments

Distributions of a portion of a company's earnings, decided by the board, to a class of its shareholders.

Trade Credit

A financing arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later agreed date.

Accounts Receivable

Money owed to a company by its debtors for goods or services that have been delivered or sold but not yet paid for.

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