Question ID: $1528141$

$($Case Study Question$)$

Stuart Holman, age $77,$ made a qualified charitable distribution of $$60,000$ from one of his traditional IRAs directly to his favorite public charity. The IRA consisted entirely of tax$-$deductible contributions and earnings. How will the distribution and associated charitable contribution be treated on Stuart's income tax return this year?

The $$60,000$ distribution consisted of pretax contributions and is included in Stuart's taxable income this year.

The $$60,000$ distribution consisted of pretax contributions and is not included in Stuart's taxable income this year.

Stuart may take a charitable contribution deduction for $$60,000,$ subject to the type of charity and adjusted gross income $($AGI$)$ limitations$.$

Stuart will not get a corresponding $$60,000$ charitable deduction on his income tax return even if it would be within the applicable limits$.$

A$)$

II only

B$)$

I only

C$)$

I and III

D$)$

II and IV