Jasper fern age 62 works full time and maintains two, Ask an Expert

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Jasper Fern, age 62, works full time and maintains two traditional IRA accounts. On March 23 of the current year, he withdraws $6,500 form one of his IRA accounts. The account is funded only with $6,500 nondeductible contributions. Its balance is $2,333 immediately after the withdrawal and $2,525 at year-end. The other IRA account is funded only with deductible contributions. Its balance is $40,177 as of March 23, and $43,500 balance as of December 31, the same year. What portion of Jasper's distribution constitutes gross income?

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Financial Management, Finance

Category:- Financial Management
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