Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years.

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Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. How much of these funds may Jimmy withdraw tax-free?

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Related Book For answer-question

South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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Question Posted: Dec 22, 2016 01:13 AM

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Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years.

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112000 Assuming that Jimmy met the income limit...View the full answer

South Western Federal Taxation Individual Income Taxes 2017

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