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Jennifer, age 61, withdrew $12,000 from a traditional IRA this year. The balance in the...

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Accounting

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Jennifer, age 61, withdrew $12,000 from a traditional IRA this year. The balance in the account at year-end was $183,700, which included $40,000 of nondeductible contributions. Compute the taxable portion of the $12,000 withdrawal. Multiple Choice $5 $2,453 $12,000

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