Jasmine is single and turned $72$ years old on October $1,2023.$

Jasmine worked as a public historian at the local library and earned wages of $$32,000.$ Jasmine also received Social Security benefits of $$16,500.$ She received a taxable pension of $$14,000.$

She retired from her previous job on October $30,2020.$ During her career she contributed pretax dollars to a qualified $401(k)$ retirement plan through her employer.

Jasmine cannot be claimed as a dependent by another taxpayer.

Jasmine is a U$.$S$.$ citizen with a valid Social Security number.

Basic Scenario $5$: Retest Questions

$9.$ Jasmine does not qualify for the Earned Income Tax Credit because she does not meet the age requirement.

$4.$ True

b$.$ False

$10.$ When must Jasmine begin taking her required minimum distribution?

a$.$ April $1$ of the calendar year following the year she reaches age $701/2.$

$($b$.$April $1$ of the calendar year following the year she reaches age $73.$

c$.$ April $1$ of the calendar year following the year she retired.

d$.$ Never. Required minimum distributions only apply to Roth IRAs.