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* * * * * * Of course! Here are three additional scenarios: Scenario 1 6 : John, age 5 8 , is a military

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Of course! Here are three additional scenarios:
Scenario 16:
John, age 58, is a military reservist called to active duty. He takes a $35,000 distribution from his Traditional IRA.
Wages: $38,000
Interest and Dividend income: $1,200
Itemized Deductions: $14,500
Allowable deduction for self-employment tax: None
Calculate:
The portion of the distribution subject to the 10% early withdrawal penalty.
AGI (Adjusted Gross Income)
Taxable Income
Total Tax Liability
Scenario 17:
Emily, age 47, is a military reservist called to active duty. She takes a $40,000 distribution from her Traditional IRA.
Wages: $42,000
Interest and Dividend income: $800
Itemized Deductions: $13,000
Allowable deduction for self-employment tax: None
Calculate:
The portion of the distribution subject to the 10% early withdrawal penalty.
AGI (Adjusted Gross Income)
Taxable Income
Total Tax Liability

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