Question
Early distributions (before age 59 1/2) from a traditional IRA, Roth IRA, or other qualified retirement plan are subject to a 10% penalty on the
Early distributions (before age 59 1/2) from a traditional IRA, Roth IRA, or other qualified retirement plan are subject to a 10% penalty on the taxable part of the distribution. However, there are certain exceptions to this penalty. All of the following are exceptions to the 10 percent panoply, except:
a) Distribution due to death.
b) Distribution due to disability.
c) Distribution due to an IRS levy.
d) Distribution due to pay an IRS balance due.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
