Question
Lisa, age 45, needed some cash so she withdrew $56,000 from her Roth IRA. At the time of the distribution, the balance in the Roth
Lisa, age 45, needed some cash so she withdrew $56,000 from her Roth IRA. At the time of the distribution, the balance in the Roth IRA was $200,000. Lisa established the Roth IRA 10 years ago. Over the years, she has contributed $21,200 to her account. What amount of the distribution is taxable and subject to early distribution penalty?
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
134128524, 978-0134128528
