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Mark has a Roth IRA which he opened 20 years ago. His Roth IRA has a $250,000 balance, of which $75,000 is cumulative after-tax contributions.
Mark has a Roth IRA which he opened 20 years ago. His Roth IRA has a $250,000 balance, of which $75,000 is cumulative after-tax contributions. Mark has never made any Roth IRA withdrawals and has no other Roth IRAs. Assume that Mark is not disabled and does not use the proceeds for buying his first home. How much would be included in Marks gross income if Mark withdrew $80,000 from his Roth IRA in 2023
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