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ryan, age 51, takes a $35,000 distribution from his traditional IRA to pay qualified education expenses for his friend's daughter, Jessica, who is attending an
ryan, age 51, takes a $35,000 distribution from his traditional IRA to pay qualified education expenses for his friend's daughter, Jessica, who is attending an eligible educational institution. Jessica's total educational expenses are $35,000, and she recieved scholarshio of $5,000. How much of Ryan's distribution is subject to 10% additional tax? A. $0 B. $10,000 C. $30,000 D. $35,000
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
