Mary has a Roth IRA held more than five years to which she has contributed $30,000. The

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Mary has a Roth IRA held more than five years to which she has contributed $30,000. The IRA has a current value of $62,000. Mary is 55 years old and she takes a distribution of $40,000. How much of the distribution will be taxable to Mary?

a. $0

b. $8,000

c. $10,000

d. $40,000

e. Some other amount

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Feb 28, 2023 05:27 AM

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Mary has a Roth IRA held more than five years to which she has contributed $30,000. The

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Income Tax Fundamentals 2023

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