Question
Lisa, age 45, needed some cash so she received a $50,800 distribution from her Roth IRA. At the time of the distribution, the balance in
Lisa, age 45, needed some cash so she received a $50,800 distribution from her Roth IRA. At the time of the distribution, the balance in the Roth IRA was $201,600. Lisa established the Roth IRA 10 years ago. Over the years, she has contributed $20,400 to her account. What amount of the distribution is taxable and subject to early distribution penalty?
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College Accounting Ch 1-12
Authors: Dansby
5th Edition
0763834955, 978-0763834951
