Business
Business, 14.04.2020 22:19, SoUpsup

In 2018, Jessica retired at age 65. On the date of her retirement, the balance in her traditional IRA was $200,000. Over the years, Jessica had made $20,000 of nondeductible contributions and $60,000 of deductible contributions to the account. If Jessica receives a $50,000 distribution from the IRA on the date of retirement, what amount of the distribution is taxable?A) $0.
B) $5,000.
C) $37,500.
D) $45,000.
E) $50,000.

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Answers: 1

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