Daniela Retired at the Age of 65

question 91

Multiple Choice

Daniela retired at the age of 65. The current balance in her Roth IRA is $200,000. Daniela established the Roth IRA 10 years ago. Through a rollover and annual contributions Daniela has contributed $90,000 to her account. If Daniela receives a $60,000 distribution from the Roth IRA, what amount of the distribution is taxable?

• A)$0.
• B)$27,000.
• C)$33,000.
• D)$60,000.

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Definitions:

LLPs

Limited Liability Partnerships, a form of business organization where partners have limited liabilities and it protects each partner from debts against the partnership arising from professional malpractice lawsuits.

Certificate of Authenticity

A document or seal that verifies the authenticity of an item or artwork, usually by the creator or issuing authority.

Foreign LLPs

Limited liability partnerships established in one jurisdiction but registered to do business in another jurisdiction, often with different legal implications.

Distribution

The process of delivering or spreading goods, services, or financial assets from a central point to multiple recipients or locations.