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Sanderson has made deductible contributions to his traditional IRA for many years. Sanderson recently retired...

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Accounting

Sanderson has made deductible contributions to his traditional IRA for many years. Sanderson recently retired at age60 and received a distribution of $150,000. In which way, if any, will the distribution be taxed?
It will not be taxed.
As a capital gain.
Subject to a 10% penalty.
As ordinary income.

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