Joan made deductible contributions to traditional retirement accounts for several years. In 2015, she decides to withdraw $10,000 from one of her accounts. Joan is 62 years old. How does this transaction affect her 2015 tax return? a. Joan must report the entire amount of $10,000. b. Joan does not have to report anything because she is over age 59 1/2. c. Joan does not have to report any amount because the withdrawal was not from a Roth IRA. d. Joan must report the distribution she received but can elect to use the 10-year option.
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Home » Business » Joan made deductible contributions to traditional retirement accounts for several years. In 2015, she decides to withdraw $10,000 from one of her accounts. Joan is 62 years old. How does this transaction affect her 2015 tax return? a.