Pierre Retired in 2017 at Age 62

question 99

Multiple Choice

Pierre retired in 2017 at age 62.During the year he received distributions of $27,000 from his IRA.He made nondeductible contributions of $60,000 to the IRA in prior years and has never received a nontaxable distribution.As of December 31,2017,the value of his IRA was $450,000.Calculate the taxable portion of Pierre's distribution.

• A)$3,396.
• B)$3,600.
• C)$23,400.
• D)$23,604.

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Definitions:

Infant Mortality Rates

The statistical measure of the number of deaths of infants under one year old per 1,000 live births in a given region or population.

Child-bearing Years

The age period in which individuals, typically women, are biologically capable of conceiving and giving birth to children.

Obesity Rates

The percentage of a population that is significantly overweight, with a body mass index (BMI) of 30 or higher, indicating a larger issue of public health and nutrition.

Labour Pool

The total number of individuals available for employment or work in a specific area or industry.