2015 Advanced Exam - Scenario 7: Elliot and Kathy Blackburn - Question 4 of 7. 2

Question

2015 Advanced Exam - Scenario 7: Elliot and Kathy Blackburn - Question 4 of 7. 24. How much of the $17,500 gross distribution reported on Form 1099-R is taxable in 2015? $ ________.

(Do not enter dollar signs, commas, periods, or decimal points in your answer.) 2015 Advanced Exam - Scenario 7: Elliot and Kathy Blackburn - Question 4 of 7. 24. How much of the $17,500 gross distribution reported on Form 1099-R is taxable in 2015? $ ________.

(Do not enter dollar signs, commas, periods, or decimal points in your answer.)

Explanation / Answer

Deduction is allowable to the extent of 50% of the gross distribution. Thus deduction allowable will be = $17500 x 50% = $8750

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