Payments from an Annuity Purchased from an Insurance Company Are

question 123

True/False

Payments from an annuity purchased from an insurance company are not taxable until the taxpayer has recovered the purchase price of the annuity.

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Definitions:

Subsequent Encounter

A follow-up visit or interaction with healthcare professionals regarding continued treatment or assessment of a condition.

Fracture

Broken cartilage or bone.

NEC

Not Elsewhere Classified, used in coding systems for conditions that don't have a specific category allocation.

Not Elsewhere Classifiable

A term used in coding and classification systems for instances that do not fit into any existing categories.