Mary has a Roth IRA held more than 5 years to which she has contributed $30,000. The
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Mary has a Roth IRA held more than 5 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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Related Book For
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller
Question Posted:
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