Multiple Choice
In 2018,Jessica retired at the age of 65.The current 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,what amount of the distribution is taxable?
A) $0
B) $5,000
C) $37,500
D) $45,000
E) $50,000
Correct Answer:
Verified
Correct Answer:
Verified
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