$*****$

Scenario: Early Withdrawal Penalty

Samantha, age $42,$ is a military reservist called to active duty. She takes a $$30,000$ distribution from her Traditional IRA.

Wages: $$22,000$

Interest and Dividend income: $$1,200$

Itemized Deductions: $$15,500$

Allowable deduction for self$-$employment tax: None

Calculate:

The portion of the distribution subject to the $10\%$ early withdrawal penalty.

AGI $($Adjusted Gross Income$)$

Taxable Income

Total Tax Liability