Sam retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year. During his years of employment, Sam contributed $130,000 to the plan on an after-tax basis. Based on IRS tables, his life expectancy is 260 months. This year, Sam will include what amount in income?
A. $30,000
B. 0
C. $24,000
D. $6,000
Answer: C
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