Jessica retired at age 65 . On the date of her retirement, the baiance in her traditional IRA was $205,000.0ver the years, Jessica had macie $20,500 of nondeductible contributions and $62,500 of deductible contributions to the account. If Jessica recelves a $55,000 distribution from the IRA on the dote of retirement what amount of the distribution is taxable? Multiple choice 50 55500 5+1250 249500 $55.000 Arlington LLC exchanged land used in its business for some new land. Artington originally purchased the land it exchanged for $37,000. The new land hed a fair market value of $39,500. Arlington adso recelved $11,000 of office equipment in the transaction. What is Arington's recognized gain or loss on the exchange? Multiple Choice 50 511,000 12.500 $13.500 None of the choices ais correct Jessica retired at age 65 . On the date of her retirement, the baiance in her traditional IRA was $205,000.0ver the years, Jessica had macie $20,500 of nondeductible contributions and $62,500 of deductible contributions to the account. If Jessica recelves a $55,000 distribution from the IRA on the dote of retirement what amount of the distribution is taxable? Multiple choice 50 55500 5+1250 249500 $55.000 Arlington LLC exchanged land used in its business for some new land. Artington originally purchased the land it exchanged for $37,000. The new land hed a fair market value of $39,500. Arlington adso recelved $11,000 of office equipment in the transaction. What is Arington's recognized gain or loss on the exchange? Multiple Choice 50 511,000 12.500 $13.500 None of the choices ais correct