Question
Marge inherits a Rollover IRA account (previously from a 401(k) plan) valued at $850,000 when her mother recently passed away. Her mother contributed $185,000 over
Marge inherits a Rollover IRA account (previously from a 401(k) plan) valued at $850,000 when her mother recently passed away. Her mother contributed $185,000 over 25 years into her 401(k) plan. Upon receiving the Rollover IRA, Marge will have to pay tax on what amount?
Multiple Choice
$185,000
$665,000
$0
$1,035,000
$850,000
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Cost Accounting Principles And Applications
Authors: Horace R. Brock, Linda Herrington
6th Edition
0028034287, 978-0028034287
