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Mr Smith, Age 61, Withdrew $12,000 from His Traditional IRA

Question 15

Multiple Choice

Mr. Smith, age 61, withdrew $12,000 from his traditional IRA this year. The balance in the account at year-end was $183,700, which included $40,000 of nondeductible contributions. Compute the taxable portion of the $12,000 withdrawal.


A) $0
B) $2,453
C) $12,000
D) None of these choices are correct

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