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Chris, age 30, contributed $3,000 to a Roth IRA three years ago before withdrawing $4,000 to pay for his tuition to an MBA program this
Chris, age 30, contributed $3,000 to a Roth IRA three years ago before withdrawing $4,000 to pay for his tuition to an MBA program this year. How much of the $4,000 will he need to report as ordinary income and how much will be subject to a 10% early withdrawal penalty?
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Chris will need to report the earnings portion of the withdrawal as ordinary income and the penalty ...
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Fundamentals Of Taxation 2016
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
9th Edition
1259812774, 978-1259812774
