Question
Philip, who is currently age 52, made his only contribution to his Roth IRA in 2017 in the amount of $5,500. If he were to
Philip, who is currently age 52, made his only contribution to his Roth IRA in 2017 in the amount of $5,500. If he were to receive a total distribution of $11,000 from his Roth IRA today (3/25/2019) to purchase a new car, how much of distribution is subject to income tax and how much of distribution is subject to 10% penalty?
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International financial management
Authors: Jeff Madura
9th Edition
978-0324593495, 324568207, 324568193, 032459349X, 9780324568202, 9780324568196, 978-0324593471
