Marge has a Roth IRA held more than 5 years to which she has contributed $38,000. The

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Marge has a Roth IRA held more than 5 years to which she has contributed $38,000. The IRA has a current value of $62,000. Marge is 65 years old and she takes a distribution of $40,000. How much of the distribution will be taxable to Marge?
a. $0
b. $8,000
c. $30,000
d. $40,000
e. Some other amount

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Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill

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