1. Marge has a Roth IRA held more than 5 years to which she has contributed $30,000. The IRA has a current value of $62,000. Marge is 65 years old and she takes a distribution of $38,000. How much of the distribution will be taxable to Marge? a. $30,000 b. $0 c. $38,000 d. $8,000 e. Some other amount 2. What is the deadline for making a contribution to a traditional IRA or a Roth IRA for 2019? a. December 31, 2019 b. April 15, 2020 c. October 15, 2020 d. April 17, 2019

1. Marge has a Roth IRA held more than 5 years to which she has contributed $30,000. The IRA has a current value of $62,000. Marge is 65 years old and she takes a distribution of $38,000. How much of the distribution will be taxable to Marge? a. $30,000 b. $0 c. $38,000 d. $8,000 e. Some other amount 2. What is the deadline for making a contribution to a traditional IRA or a Roth IRA for 2019? a. December 31, 2019 b. April 15, 2020 c. October 15, 2020 d. April 17, 2019

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 9MCQ

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Question

a. $30,000

b. $0

c. $38,000

d. $8,000

e. Some other amount

2. What is the deadline for making a contribution to a traditional IRA or a Roth IRA for 2019?

a. December 31, 2019

b. April 15, 2020

c. October 15, 2020

d. April 17, 2019

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