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kicyunya [14]
4 years ago
13

Monica has a Roth IRA to which she contributed $15,000. The IRA has a current value of $37,500. She is 54 years old and takes a

distribution of $25,000. How much of the distribution will be taxable to Monica? Group of answer choices
Business
1 answer:
Korolek [52]4 years ago
7 0

Answer:

$10,000

Explanation:

Monica has a Roth IRA in which she contributed $15,000

The IRA has a current value of $37,500

Monica is 54 years old

She takes a distribution of $25,000

Therefore, the amount of distribtion that will be taxable can be calculated as follows

Amount of taxable distribution= $25,000-$15,000

= $10,000

Hence the amount of distribution that will be taxable to Monica is $10,000

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7 0
3 years ago
Air France collected cash on February 4 from the sale of a ticket to a customer on January 26. The flight took place on April 5.
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Answer:

Air France should have recognized the Revenue in month of  APRIL.

Explanation:

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