Seven years ago, Halle (currently age 41) contributed $4,000 to a Roth IRA account. The current value
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Seven years ago, Halle (currently age 41) contributed $4,000 to a Roth IRA account. The current value of the Roth IRA is $9,000. In the current year, Halle withdraws $8,000 of the account balance to use as a down payment on her first home. Assuming Halle is in the 24 percent marginal tax bracket, how much of the $8,000 withdrawal will she retain after taxes to fund her house down payment?
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Related Book For
Essentials Of Federal Taxation 2019
ISBN: 9781260190045
10th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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