Mr. Smith, age 61, withdrew $12,000 from his 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.
A. $2,453
B. $0
C. $12,000
D. None of the above
Answer: D
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a. Rational numbers, uniformly b. Rational numbers, normally c. Random numbers, uniformly d. Random numbers, normally
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What will be an ideal response?
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A. Only A is false. B. Only B is false. C. Both of these are false. D. Neither of these is false.