Hamden Is Entitled to Receive Monthly Payments of $6,000 Over

question 24

Multiple Choice

Hamden is entitled to receive monthly payments of $6,000 over his life from his employer's qualified pension plan.The payments begin January 1,2017.He contributed $286,000 to the plan prior to his retirement at age 62.Using the simplified method,what amount of the payments will be excluded from Hamden's taxable income for 2017?

• A)$0.
• B)$13,200.
• C)$58,800.
• D)$72,000.

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