John established his first Roth IRA seven years ago and has made a total participant contribution of $7,000 so far. Four years ago, he also

converted his Traditional IRA assets ($6,000) to his Roth IRA (tax deduction was allowed when he contributed to his Traditional IRA and he

has paid tax at the time of conversion). John is now 55 years old, and the balance in Johns Roth IRA is $15,500 (20 points).

(a). If John withdraws $15,500 from his account to pay for his sons college tuition, is it a qualified distribution and why? (4 points)

(b). If John withdraws $15,500 from his account to pay for his sons college tuition, what amount is subject to income tax and what amount is subject to early-distribution penalty obligation (you need to explain how you get the final answers to obtain full credit)? (8 points)

(c). If John withdraws $15,500 to pay for a vacation, what amount is subject to income tax and what amount is subject to early-distribution penalty obligation (you need to explain how you get the final answers to obtain full credit)? (8 points)

Please write down your answers to question (a), (b) and (c) below (you need to show all your work to get full credits/partial credits; points will be deducted if you don't show how you derive the results even the final answer is correct).