Question
Curtis is 50 years old and has an individual retirement account IRA that contains substantial funds. His son, Curtis Jr. was accepted to Yale University
Curtis is 50 years old and has an individual retirement account IRA that contains substantial funds. His son, Curtis Jr. was accepted to Yale University upon graduating from high school. Curtis had not planned for this and needs to draw 25,000 per year out of his IRA to help pay the tuition and fees at Yale. What are the tax consequences of the withdrawls from the IRA? In answering this case, use an online tax service with only the Internal Revenue Code database selected. State your keyboards and which online tax service you used to arrive at your answer.
Please follow the file memo:
Research Case - 93 (p.113).
Raabe, Whittenburg, Sanders
Federal Tax Research, 10e
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