Question: Danielle & Rob are both 65 years old, married, and file a joint return. In 2020, they have MAGI of $210,000. They provide you with
Danielle & Rob are both 65 years old, married, and file a joint return. In 2020, they have MAGI of $210,000. They provide you with the following info: How much of Danielle and Rob’s retirement income is taxable? Danielle: $29,000; Rob: $0 None of these Danielle: $29,000; Rob: $18,000 Danielle: $5,000; Rob: $0 Danielle: $30,000; Rob: $0
Danielle’s IRA distribution: $30,000
Danielle’s previously nondeductible contributions: $25,000
Danielle’s account balance at withdrawal: $750,000
Rob’s Roth IRA distribution: $20,000
Rob’s previously nondeductible contributions: $80,000
Rob’s account balance at withdrawal: $800,000a. b. c. d. e.
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