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Part 1 - Scenario 6 - ri Review the following scenario Use the information provided to answer questions about the taxpayer's 2020 return Evonne Willams (32) is filing as a single taxpayer Evonne was the beneficiary of one of her great-grandmother's traditional IRAs She passed away during the year, and Evonne took a $2,000 total distribution from the IRA. She then used the money to pay down her SC credit card debt is Evonne did not qualify for any COVID-19 related exceptions for IRA distributions. As far as she knows, all of her great-grandmother's contributions to the account were deductible Evonne's only other income during the year was 544,000 in wages. She will calm the standard deduction e/be Question 12 of 50. The Form 1099-R Evonne received is shown in the image below. The form shows a code "4" in box 7, indicating that the distribution is due to death. What amount, if any, will Evonne need to pay as an additional tax on early distributions ? 2020 CORRECTED of checked PAYER'S name, street address, city or town, state or province, 1 Gross distribution OMB No 1545-0119 Distributions From country, ZIP or foreign postal code, and phone no. Pensions, Annuities, STATE BANK AND TRUST $ 2,000.00 Retirement or Profit-Sharing Plans 105 JEFFERSON STREET 2 Taxable amount IRAs, Insurance YOUR CITY, YS XXXXX Contracts, eta $ 2,000.00 Form 1099-R (XXX) 555-1234 21 Table amount Total not determined o distribution X Copy B Report this PAYER'S TIN RECIPIENT'S TIN Capital gain included 4 Federal income tax income on your in box 20 withheld federal tax XX-XXXXXXX XXX-XX-XXXX return. If this s 200.00 form shows RECIPIENT'S name 5 Employee contributions 6 Net unrealised federal income Designated Roth appreciation in EVONNE WILLIAMS contributions of tax withheld in oployer's securities insurance premium box 4, attach this copy to Street address including apt.no 7 Distribution RW B Other your return. codes SEP 1116 WEST 49TH TERRACE SIMPLE xls This information is City or low, state or province, country, and IP or foreign postal codes your percentage of for Tool employee contribution being furnished to YOUR CITY, YS XXXXX distribution the IRS 10 Amour cable to RR 11 1st year of Gesic 12 FATCA 14 State tax with within 5 years 15 Stats Payer's state no. 16 State distribution Rothcortib remont IS IS sis Account number instructions 881234562 13 Date of payment 17 Localid Is 18 Name of locurity 19 Local distribution For 1099-R www.form Department of the Treasury - Internal Revue Service SO $100 $200 $400 Mark for follow up Back Save / Return Later Summary Next