5. Sheila 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. Sheila is 65 years old and she takes a distribution of $38,000. How much of the distribution will be taxable to Sheila?

A. $8,000

B. $32,000

C. $38,000

D. $0

6. Jill graduates from high school in 2020 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees. Assuming Jills parents have AGI of $75,000, what is the American Opportunity tax credit they can claim for Jill?

A. $2,500

B. $4,000

C. $2,000

D. $0