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Required information [The following information applies to the questions displayed below. Jimmer has contributed $15,000 to his Roth IRA and the balance in the account
Required information [The following information applies to the questions displayed below. Jimmer has contributed $15,000 to his Roth IRA and the balance in the account is $18,000. In the current year, Jimmer withdrew $17,000 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 24 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Jimmer opened the Roth account 44 months before he withdrew the $17,000 and Jimmer is age 53. 500 Tax Penalty 200 Required information [The following information applies to the questions displayed below. Jimmer has contributed $15,000 to his Roth IRA and the balance in the account is $18,000. In the current year, Jimmer withdrew $17,000 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 24 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Jimmer opened the Roth account 44 months before he withdrew the $17,000 and Jimmer is age 53. 500 Tax Penalty 200
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