Question
Paul (45) takes a #9,000 distribution from his traditional IRA to pay some of his daughter's $14,000 qualified education expenses at an eligible educational institution.
Paul (45) takes a #9,000 distribution from his traditional IRA to pay some of his daughter's $14,000 qualified education expenses at an eligible educational institution. His daughter paid $8,000 of her expenses with a tax-free scholarship. How much of Paul's IRA distribution is subject to the 10% tax on early distribution?
A - $0
B - $3,000
C - $5,000
D - $9,000
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Management And Cost Accounting Tools And Concepts In A Central European Context
Authors: Andreas Taschner, Michel Charifzadeh
1st Edition
3527508228, 978-3527508228
