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Max retired in 2017 at age 62. During the year he received distributions of $9,000...

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Accounting

Max retired in 2017 at age 62. During the year he received distributions of $9,000 from his IRA. He made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2017, the value of his IRA was $150,000. Calculate the taxable portion of Max's distribution. Show Work

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