Retirement Income Taxation Exam Question 22 of 25 Select the best answer to IRA1

Question

Retirement Income Taxation Exam Question 22 of 25 Select the best answer to IRA1 and $45,000 to her qualified to the qualified plan? RAs. She has $32,000 in IRA1 and $41,000 in IRA2. She made onty tax-deductible contributions hade a total of $10,000 of nondeductible contributions to IRA2 over the years. She wants to transfer eded plan. What is the maximum amount of the $45,000 that Sammy can transfer from IRA2 A. $13,000 O B. $22,500 10 //c. $31,000 O D. $41,000 Submit Answers m, Question Q 22 84% Complete Exit & Resume

Explanation / Answer

The correct choice is A

Explanation : - Sammy can transfer $ 32,000 from IRA1 account to her qualified plan. The remaining $ 13,000 must be transferred from IRA2 account to the qualified plan . Thus the maximum amount Sammy can transfer from IRA2 account equals $ 13,000 .

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