Question
Danielle & Rob are both 65 years old, married, and file a joint return. In 2020, they have MAGI of $210,000. They provide you with
Danielle & Rob are both 65 years old, married, and file a joint return. In 2020, they have MAGI of $210,000. They provide you with the following info: Danielles IRA distribution: $30,000 Danielles previously nondeductible contributions: $25,000 Danielles account balance at withdrawal: $750,000 Robs Roth IRA distribution: $20,000 Robs previously nondeductible contributions: $80,000 Robs account balance at withdrawal: $800,000 How much of Danielle and Robs retirement income is taxable?
| a. | None of these |
| b. | Danielle: $30,000; Rob: $0 |
| c. | Danielle: $5,000; Rob: $0 |
| d. | Danielle: $29,000; Rob: $18,000 |
| e. | Danielle: $29,000; Rob: $0 |
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