Mrs. Soon retired at age 68 and withdrew the entire $77,100 balance from an IRA to buy a sailboat. She opened this account in 1999. Which of the following statements is false?
A. If the account is a traditional IRA to which Mrs. Soon made $32,000 nondeductible contributions, $45,100 of the withdrawal is taxable.
B. If the account is a traditional IRA funded entirely with deductible contributions, the entire $77,100 withdrawal is taxable.
C. If the account is a Roth IRA, none of the withdrawal is taxable.
D. None of the above is false.
Answer: D
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