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Posted on Jul 10, 2024

A taxpayer who fails to take a required minimum distribution from a qualified plan is subject to an excise tax on the amount not withdrawn.

A taxpayer who fails to take a required minimum distribution from a qualified plan is subject to an excise tax on the amount not withdrawn. This tax is based on which of the following percentages?

A. 10%

B. 20%

C. 50%

D. 100%

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