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Juanita, age 62, retired in 2020. During the year, she received distributions of $9,000 from her IRA. She made nondeductible contributions of $20,000 to the
- Juanita, age 62, retired in 2020. During the year, she received distributions of $9,000 from her IRA. She made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2020, the value of her IRA was $150,000. Calculate the nontaxable portion of Juanitas distribution.
- $1,132.
- $1,200.
- $7,868.
- $9,000.
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Hospitality Industry Managerial Accounting
Authors: Raymond S. Schmidgall
8th Edition
0866124977, 9780866124973
