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12 Mrs. Soon retired at age 68 and withdrew the entire $77,100 balance from an IRA to buy a sailboat. She opened this account in
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Mrs. Soon retired at age 68 and withdrew the entire $77,100 balance from an IRA to buy a sailboat. She opened this account in 2000. Which of the following statements is false? Multiple Choice 5 O If the account is a Roth IRA, none of the withdrawal is taxable. If the account is a traditional IRA to which Mrs. Soon made $32,000 nondeductible contributions, $45,100 of the withdrawal is taxable. If the account is a traditional IRA funded entirely with deductible contributions, the entire $77,100 withdrawal is taxable. None of these choices are false Step by Step Solution
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