Max Retired in 2015 at Age 62.

Question 64
Multiple Choice

Max retired in 2015 at age 62. During the year he received distributions of $9,000 from his IRA. He made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2015, the value of his IRA was $150,000. Calculate the taxable portion of Max's distribution. A) $0. B) $1,132. C) $7,868. D)$9,000.