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* * * * * * Of course! Here are three additional scenarios: Scenario 1 6 : John, age 5 8 , is a military
Of course! Here are three additional scenarios:
Scenario :
John, age is a military reservist called to active duty. He takes a $ distribution from his Traditional IRA.
Wages: $
Interest and Dividend income: $
Itemized Deductions: $
Allowable deduction for selfemployment tax: None
Calculate:
The portion of the distribution subject to the early withdrawal penalty.
AGI Adjusted Gross Income
Taxable Income
Total Tax Liability
Scenario :
Emily, age is a military reservist called to active duty. She takes a $ distribution from her Traditional IRA.
Wages: $
Interest and Dividend income: $
Itemized Deductions: $
Allowable deduction for selfemployment tax: None
Calculate:
The portion of the distribution subject to the early withdrawal penalty.
AGI Adjusted Gross Income
Taxable Income
Total Tax Liability
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