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Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,000 to his Roth IRA, and
Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,000 to his Roth IRA, and the balance in the account is $21,000. In the current year, Jimmer withdrew $19,700 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 25 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? Note: Leave no answers blank. Enter zero if applicable. Problem 13-77 Part b (Algo) o. Jimmer opened the Roth account 44 months before he withdrew the $19,700 and Jimmer is age 53. Answer is complete but not entirely correct
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