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Lisa, age 47, needed some cash so she withdrew $55,500 from her Roth IRA. At the time of the distribution, the balance in the
Lisa, age 47, needed some cash so she withdrew $55,500 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 $21,100 to her account. What amount of the distribution is taxable and subject to early distribution penalty? Multiple Choice $0. $5,550 $34.400
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Financial Accounting: A Business Process Approach
Authors: Jane L. Reimers
3rd edition
978-013611539, 136115276, 013611539X, 978-0136115274
