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Required information [The following information applies to the questions displayed below.] Kathleen, age 56, works for MH Incorporated in Dallas, Texas. Kathleen contributes to a
Required information [The following information applies to the questions displayed below.] Kathleen, age 56, works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth \\( 401(\\mathrm{k}) \\), and \\( \\mathrm{MH} \\) contributes to a traditional \\( 401(\\mathrm{k}) \\) on her behalf. Kathleen has contributed \\( \\$ 40,080 \\) to her Roth \\( 401(\\mathrm{k}) \\) over the past six years. The current balance in her Roth \\( 401(k) \\) account is \\( \\$ 66,800 \\) and the balance in her traditional \\( 401(k) \\) is \\( \\$ 51,200 \\). 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 24 percent. If Kathleen receives a \\( \\$ 17,000 \\) distribution from her traditional \\( 401(\\mathrm{k}) \\) account, how much will she be able to eep after paying taxes and penalties, if any, on the distribution? Required information [The following information applies to the questions displayed below.] Kathleen, age 56, works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth \\( 401(\\mathrm{k}) \\), and \\( \\mathrm{MH} \\) contributes to a traditional \\( 401(\\mathrm{k}) \\) on her behalf. Kathleen has contributed \\( \\$ 40,080 \\) to her Roth \\( 401(\\mathrm{k}) \\) over the past six years. The current balance in her Roth \\( 401(\\mathrm{k}) \\) account is \\( \\$ 66,800 \\) and the balance in her traditional \\( 401(\\mathrm{k}) \\) is \\( \\$ 51,200 \\). 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 24 percent. \\( \\therefore \\) If Kathleen retires from \\( \\mathrm{MH} \\) and then receives a \\( \\$ 17,000 \\) distribution from her traditional \\( 401(\\mathrm{k}) \\), how much vill she be able to keep after paying taxes and penalties, if any, on the distribution? Required information [The following information applies to the questions displayed below.] Kathleen, age 56, works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth 401(k), and \\( \\mathrm{MH} \\) contributes to a traditional 401(k) on her behalf. Kathleen has contributed \\( \\$ 40,080 \\) to her Roth \\( 401(\\mathrm{k}) \\) over the past six years. The current balance in her Roth \\( 401(\\mathrm{k}) \\) account is \\( \\$ 66,800 \\) and the balance in her traditional \\( 401(\\mathrm{k}) \\) is \\( \\$ 51,200 \\). 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 24 percent. If Kathleen receives a \\( \\$ 17,000 \\) distribution from her Roth \\( 401(k) \\) account, how much will she be able to keep fter paying taxes and penalties, if any, on the distribution
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