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Morton Has a Roth IRA to Which He Has Made

Question 3

Multiple Choice

Morton has a Roth IRA to which he has made contributions of $26,000.The Roth IRA has a current value of $41,000.He is 62 years old,has met the 5-year holding requirement,and takes a distribution of $25,000.How much of the distribution will be taxable to Morton?


A) $16,000
B) $25,000
C) $26,000
D) $1,000
E) $0

Correct Answer:

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