What amount from each distribution must allison include, Financial Accounting

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What amount from each distribution must allison include

Problem

During the current tax year, Allison (single, age 65) takes the following distributions:

a) $25,000 from a traditional IRA established 20 years ago. All prior contributions to this IRA were deductible.

b) $75,000 from a ROTH IRA established 10 years ago, consisting of $30,000 in contributions made by Allison and $45,000 in accumulated earnings.

What amount from each distribution must Allison include in gross income?

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Financial Accounting: What amount from each distribution must allison include

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Financial Accounting: What amount from each distribution must allison include

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