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Can someone throw me a bone and explain to me how in the world is this proble even solvable? Juanita, age 62, retired in 2018.
Can someone throw me a bone and explain to me how in the world is this proble even solvable?
Juanita, age 62, retired in 2018. During the year, she received distributions of $9000 from her IRA. She made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2018, the value of her IRA was $150,000. Calculate the taxable portion of Juanita's distribution.
Paul
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