Question
Daniela retired at the age of 65. The current balance in her Roth IRA is $200,000. Daniela established the Roth IRA 10 years Ago. Through
Daniela retired at the age of 65. The current balance in her Roth IRA is $200,000. Daniela established the Roth IRA 10 years Ago. Through a rollover and annual contributions Daniela has contributed $86,000 to her account. If Daniela receives a $56,000 distribution from the Roth IRA, what amount of the distribution is taxable?
$0.
$24,080.
$31,920.
$56,000.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing Corporate Surveillance Systems Research Methods For Greater Transparency
Authors: Isabel Wagner
1st Edition
1108837662, 978-1108837668
