Todd has made total contributions of $75,000 to his traditional IRA of which $15,000 were nondeductible contributions. Todd is 60 and is considering taking a $20,000 distribution from his IRA, which currently has a fair market value of $175,000. This will be the only distribution from his IRA this year. How much of the distribution will be taxable to Todd?
a. $0
b. $4,000
c. $16,000
d. $20,000
