Kathleen, age 56 , works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth 401(k), and MH contributes to a traditional 401(k) on her behaif. Kathleen has contributed $38,640 to her Roth 401(k) over the past six years. The current balance in her Roth 401(k) account is $64,400 and the balance in her traditional 401(k) is $49,600. Kathleen needs cash because she is taking a month of vacation to travel the world. Answer the following questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is 24 percent. roblem 13.61 Part a (Algo) , If Kathleen recelves a $16,000 distribution from her traditional 401(k) account, how much will she be able to keep after paying taxes ind penalties, if any, on the distribution? Kathleen, age 56, works for MH incorporated in Dallas. Texas. Kathleen contributes to a Roth 401(k). and MH contributes to a traditional 401(k) on her behalf. Kathleen has contributed $38,640 to her Roth 401k) over the past six years. The current balance in her Roth 401(k) account is $64,400 and the balance in her traditional 401(k) is $49,600. Kathieen needs cash because she is taking a month of vacation to travel the world. Answer the follawing questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rote for ordinary income is 24 percent. Problem 13.61 Part b (Algo) b. If Kathleen receives a $16,000 distribution from her Roth 401(k account, how much will she be oble to keep after paying taxes and penalties, if any, on the distribution? Kathleen, age 56, works for MH Incorporated in Dallas, Texas, Kathleen contributes to a Roth 401(k). and MH contributes to a traditional 401(k) on her behalf. Kathleen has contributed $38,640 to her Roth 401(k) over the past six years. The current balance in her Roth 401(k) account is $64.400 and the balance in her traditional 401(k) is $49,600. Kathleen needs cash because she is taking a month of vacation to travel the world. Answer the following questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is 24 percent. Problem 13-61 Part c (Algo) c. If Kathleen retires from MH and then recelves a $16.000 distribution from her traditional 401(k), how much will she be able to keep after paying taxes and penalties, if any, on the distribution? Kathleen, age 56, works for MH incorporated in Dallas, Texas. Kathleen contributes to a Roth 401(k), and MH contributes to a taditional 401(k) on her behalf. Kathleen has contributed $38,640 to her Roth 401(k) over the past 51x years. The current balance in her Roth 401(k) account is $64,400 and the balance in her traditional 401(k) is $49,600. Kathleen needs cash because she is taking a month of vacation to travel the worid. Answer the following questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is 24 percent. Problem 13-61 Part d (Algo) d. If Kathleen retires from MH and then recerves a $16,000 distribution from her Roth 401(k). how much will she be able to keep after paying taxes and penalties, If any, on the distribution? Kathleen, age 56, works for MH incorporated in Dallas, Texas. Kathleen contributes to a Roth 401 (K). and MH contributes to a traditional 401(k) on her behair. Kathieen has contributed $38,640 to her Roth 401(k) over the past six years. The current balance in her Roth 401(k) account is $64,400 and the balance in her traditional 401(k) is $49,600. Kathleen needs cash because she is taking a month of vacation to travel the worid. Answer the following questions relating to distributions from. Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is 24 percent. Problem 13-61 Part e (Algo) . Assume the original facts except that Kathleen is 60 years of age, not 56 , if Kathleen receives a 516,000 distribution from her Roth 40ik) (Without retirting), how much will she be able to keep after paying taxes and penalties, If any, on the distribution
