Pablo and his wife Bernita are both age 45. Thelr combined AGI Is $90,000. Nelther...
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Pablo and his wife Bernita are both age Thelr combined AGI Is $ Nelther is a participant in an employersponsored retirement plan. They have been contributing to a traditional IRA for many years and have built up an IRA balance of $ They are considering rolling the traditional IRA Into a Roth IRA. Requlred: a Is the couple eligible to make the conversion? b Assume that the couple does not make the conversion but, Instead, establishes a separate Roth IRA In the current year and properly contributes $ per year for four years, at which point the balance in the Roth is $contributions plus investment earnings At the end of four years, they withdraw $ to pay for an addition to their house. What is the amount of withdrawal that is taxable, If any? c Assume same facts as in requirement except that they instead withdrew only $ What is the amount of withdrawal that is taxable? d What if the $ withdrawal is used to pay qualified education expenses for their daughter who is attending college? a Is the couple eligible to make the conversion? b Taxable amount of withdrawal c Taxable amount of withdrawal d Taxable amount of withdrawal 
Pablo and his wife Bernita are both age Thelr combined AGI Is $ Nelther is a participant in an employersponsored retirement plan. They have been contributing to a traditional IRA for many years and have built up an IRA balance of $ They are considering rolling the traditional IRA Into a Roth IRA.
Requlred:
a Is the couple eligible to make the conversion?
b Assume that the couple does not make the conversion but, Instead, establishes a separate Roth IRA In the current year and properly contributes $ per year for four years, at which point the balance in the Roth is $contributions plus investment earnings At the end of four years, they withdraw $ to pay for an addition to their house. What is the amount of withdrawal that is taxable, If any?
c Assume same facts as in requirement except that they instead withdrew only $ What is the amount of withdrawal that is taxable?
d What if the $ withdrawal is used to pay qualified education expenses for their daughter who is attending college?
a Is the couple eligible to make the conversion?
b Taxable amount of withdrawal
c Taxable amount of withdrawal
d Taxable amount of withdrawal
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