Examlex
Which of the following statements is (are) true regarding the taxation of distributions from individual annuities?
I.Individual annuity distributions are never taxable.
II.Once the annuitant has recovered the premiums he or she paid for the annuity,the entire annuity distribution is taxable.
Service
An activity, or intangible product, used to satisfy human wants.
Resource Market
A market in which a resource is bought and sold.
Exchange
The act of giving one thing and receiving another, especially of the same kind or value, in return.
Scarce
A condition or situation characterized by the limited availability of resources or goods, leading to competition for their acquisition or use.
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