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please answer and ill upvote In 2022. Rashaun ( 62 years old) retired and planned on immediately receiving distributions (making withdrawals) from his traditional IRA
please answer and ill upvote In 2022. Rashaun ( 62 years old) retired and planned on immediately receiving distributions (making withdrawals) from his traditional IRA account. The balance of his IRA account is $160,000 (before reducing it for withdrawals/distributions described below). Over the years, Rashaun has contributed $40,000 to the IRA. Of his $40,000 contributions, $30,000 was nondeductible and $10,000 was deductible. Assume Rashaun did not make any contributions to the account during 2022. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. o. If Rashaun currently withdraws $20,000 from the IRA, how much tax will he be required to pay on the withdrawal if his marginal tax rate is 24 percent
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