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David has a Roth IRA, that he has held more than 5 years. He has...

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Question

Accounting

David has a Roth IRA, that he has held more than 5 years. He has contributed $50,000, and now has a market value of $100,000. David is 36 and during 2019 he withdrew $70,000. How much of the distribution will be taxable?

Select one:

a. $70,000

b. $20,000

c. $30,000

d. $50,000

Answer & Explanation Solved by verified expert
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