Marge has a Roth IRA held more than 5 years to which she has contributed $38,000. The IRA has a current value of $62,000. Marge is 65 years old and she takes a distribution of $40,000. How much of the distribution will be taxable to Marge?
Marge has a Roth IRA held more than 5 years to which she has contributed $38,000. The IRA has a current value of $62,000. Marge is 65 years old and she takes a distribution of $40,000. How much of the distribution will be taxable to Marge?
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 9MCQ
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Question
G.308.
Transcribed Image Text:Marge has a Roth IRA held more than 5 years to which
she has contributed $38,000. The IRA has a current value
of $62,000. Marge is 65 years old and she takes a
distribution of $40,000. How much of the distribution will
be taxable to Marge?
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