Question
Dan, age 68, retired from CMP and receive his first retirement check on September 1, 2021 in the amount of $ 3,000. His W2 earnings
Dan, age 68, retired from CMP and receive his first retirement check on September 1, 2021 in the amount of $ 3,000. His W2 earnings for 2021 were $ 56,000. He had contributed a total of $ 250,000 to his retirement account. How much of his retirement is taxable for 2021? Use the simplifed method worksheet to assist you.
Question options:
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| 1) | 0 |
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| 2) | 7,238 |
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| 3) | 4,762 |
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| 4) | 12000 |
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| 5) | 21,714 |
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
