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Teresa, a single taxpayer, age 81 forgot to take her 2022 required minimum distribution of $12,000 from her traditional IRA. What is her excess accumulations

Teresa, a single taxpayer, age 81 forgot to take her 2022 required minimum distribution of $12,000 from her traditional IRA. What is her excess accumulations penalty?

  1. $600
  2. $1,200
  3. $2,400
  4. $6,000

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