1 answer

Question 42 of 50. Patrick and Debra are married and file a joint return. The couple...

Question:

Question 42 of 50. Patrick and Debra are married and file a joint return. The couple has a modified AGI of $59,000. Patrick c
Question 42 of 50. Patrick and Debra are married and file a joint return. The couple has a modified AGI of $59,000. Patrick contributed $5,500 to his traditional IRA for the tax year. Neither Patrick nor Debra have ever taken a distribution from a retirement plan. Assuming there is no limitation based on their tax liability. Patrick and Debra's Saver's Credit is $200 O $400 O $800 $4,000 Mark for follow up Question 43 of 50. Kenyatta has traditional IRAs with a value of $271.000 as of December 31, 2017. She will turn 70 % on November 12, 2018 and would like to take her required minimum distribution (RMD) by December 31, 2018. The distribution amount Kenyatta should take to meet her RMD is O $10,586 $10.226 $9,891 so; no distribution is required O Mark for follow up

Answers

AS PER HOMEWORKLIB POLICY I'VE ANSWERED ONE QUESTION. KINDLY POST ONE QUESTION AT A TIME. THANK YOU!

43. Answer - $10,226

Uniform lifetime for 70 1/2 years is 26.5(As per distribution table)

RMD = 271,000 / 26.5 = 10226

.

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