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Char (61) took a $6,000 distribution from her Roth IRA. Twenty percent, or $1,200, is a distribution of earnings on her contributions. The remaining $4,800 is a distribution of her basis. Char established the account more than 20 years ago, when Roth IRAs first became available. How much of her distribution is taxable

Sagot :

Based on the information given, it should be noted that in this case, the amount from the distribution that's taxable will be $0.

In this case, it should be noted that the woman is older than 60 years. Also, she owned the accounts for more than five years. Therefore, in this case, the required condition for a tax free withdrawal has been met.

Hence, there'll be no distribution that's taxable. Therefore, based on the information given above, it can be deduced that the amount that's taxable will be $0.

Learn more about tax on:

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