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I'm I doing this right? Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of
I'm I doing this right?
Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $13,200 to the Roth IRA ( $4,400 a year). The current value of the Roth IRA is $21,100. In the current year, Sherry withdraws $18,800 of the account balance to purchase a car. Assuming Sherry's marginal tax rate is 24 percent, how much of the $18,800 withdrawal will she retain after taxes to fund her car burchaseStep by Step Solution
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