Pierre Retired in 2014 at Age 62

question 50

Multiple Choice

Pierre retired in 2014 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 31,2014,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:

Prescription Pills

Medications that are legally dispensed by a pharmacist following a healthcare provider's order.

Self-Esteem

A person's overall subjective emotional evaluation of their own worth or the degree to which they value themselves.

False Confessions

Admissions of guilt for a crime one did not commit, which can be the result of various factors, including coercion, fatigue, or the misinterpretation of evidence.

Adolescent Smokers

Young individuals, typically in their teenage years, who regularly engage in smoking tobacco, which poses significant health risks.