Essay
Abraham establishes a Roth IRA at age 45 and contributes $5,500 per year for the next 25 years. Assume he meets the income limits during this period. The account balance is now $364,500 ($137,500 contributions, $227,000 earnings). Abraham would like to draw out the entire amount this year. How much tax would Abraham have to pay as a result of this decision?
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Abraham would not owe any taxes because ...View Answer
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