Max Retired in 2017 at Age 62

question 66

Multiple Choice

Max retired in 2017 at age 62.During the year he received distributions of $12,000 from his IRA.He made nondeductible contributions of $30,000 to the IRA in prior years and has never received a nontaxable distribution.As of December 31,2017,the value of his IRA was $250,000.Calculate the nontaxable portion of Max's distribution.

• A)$1,374.
• B)$1,440.
• C)$10,560.
• D)$10,626.

Understand the concept and types of run-flat tires.

Identify and understand the importance of tire markings and tire production date.

Learn about common air loss problems and their solutions.

Grasp the fundamental principles behind tire rotation and its impact on tire longevity.

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Definitions:

Principal Investment

The original amount of money invested or loaned, on which basis interest and returns are calculated.

GIC

Stands for Guaranteed Investment Certificate, a secure investment that promises to return your principal plus interest.

Investment Savings

Funds set aside in financial instruments or accounts with the goal of generating income or profit over time.

Simple Interest

Interest earned only on the original principal amount, without compounding.