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Jessica Retired

Jessica retired at age 65. On the date of her retirement, the balance in her traditional IRA was $213,000. Over the years, Jessica had made $21,300 of nondeductable contributions and $66,500 of deductible contributions to the account. If Jessica receives a $63,000 distribution from the IRA on the date on retirement, what amount of the distribution is taxable?

A. $0

B. $6.300

C. $47,250

D. $56,700

E. $63,000

Corporate-Taxation   
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