Question
Max retired in 2019 at age 62. During 2021 he received a distributions of $12,000 from his IRA. He made nondeductible contributions of$30,000 to the
Max retired in 2019 at age 62. During 2021 he received a distributions of $12,000 from his IRA. He made nondeductible contributions of$30,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2021, the value of his IRA was$250,000. Calculate the nontaxable portion of Max's distribution.
Multiple Choice
- $1,374. - $1,440 - $10,560. - $10.626.
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Cost Management Accounting And Control
Authors: Don R. Hansen, Maryanne M. Mowen
4th Edition
0324069731, 978-0324069730
