Question
Heather, age 48, is the sole remaining participant of a money purchase pension plan. The plan is terminated and a $240,000 taxable distribution is made
Heather, age 48, is the sole remaining participant of a money purchase pension plan. The plan is terminated and a $240,000 taxable distribution is made to Heather. The early distribution penalty tax, if any, for 2019 is:
A: $0
B: $12,000
C: $24,000
D: $30,000
E: None of these
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Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
