Jay, a Single Taxpayer, Retired from His Job as a Public

question 109

Multiple Choice

Jay, a single taxpayer, retired from his job as a public school teacher in 2018. He is to receive a retirement annuity of $1,200 each month and his life expectancy is 180 months. He contributed $36,000 to the pension plan during his 35- year career? so his adjusted basis is $36,000. Jay collected 192 payments before he died. What is the correct method for reporting the pension income?

• A) Since Jay is no longer working, none of the pension payments must be included in his gross income.
• B) The first $36,000 received is a nontaxable recovery of capital, and all subsequent annuity payments are taxable.
• C) The first $180,000 he receives is taxable and the last $36,000 is a nontaxable recovery of capital.
• D) All of the last 12 payments he received ($14,400) are taxable.
• E) None of these.

Analyze the role of nonverbal communication in the context of interpersonal and organizational interactions.

Recognize the impact of individual perceptions and encoding/decoding processes on communication.

Understand the function and accuracy of informal communication networks, like the grapevine, within organizations.

Develop an awareness of cultural differences in communication practices and their managerial implications.

---

Definitions:

Chip-And-Pin Technology

A secure method for making credit and debit card transactions, using a microchip on the card and the cardholder entering a PIN.

LMS

Short for Learning Management System, it's a software application for the administration, documentation, tracking, reporting, and delivery of educational courses or training programs.

BYOD

"Bring Your Own Device," a policy that allows employees to use their personal devices for work purposes.

Sensitivity Report

In optimization and linear programming, a report that describes how the solution changes in response to variations in the parameters of the model.