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! Required information Problem 1 3 - 6 1 ( LO 1 3 - 2 ) ( Algo ) [ The following information applies to
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Problem LO Algo
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Kathleen, age works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth k and MH contributes to a traditional on her behalf. Kathleen has contributed $ to her Roth over the past six years. The current balance in her Roth account is $ and the balance in her traditional is $ Kathleen needs cash because she is taking a month of vacation to travel the world. Answer the following questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is percent.
Problem Part a Algo
a If Kathleen receives a $ distribution from her traditional account, how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
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