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[ The following information applies to the questions displayed below. ] Kathleen, age 5 6 , works for MH Incorporated in Dallas, Texas. Kathleen contributes
The following information applies to the questions displayed below.
Kathleen, age works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth k and MH contributes to a traditional k on her behalf. Kathleen has contributed $ to her Roth k over the past six years. The current balance in her Roth k account is $ and the balance in her traditional k is $ 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 percent.
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a If Kathleen receives a $ distribution from her traditional k account, how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
b If Kathleen receives a $ distribution from her Roth k account, how much will she be able to keep afterc. If Kathleen retires from MH and then receives a $ distribution from her traditional k how much will she be able to keep after paying taxes and penalties, if any, on the distribution? on her behalf. Kathleen has contributed $ to her Roth over the past six years information applies to the questions displayed be paying taxes and penalties, if any, on the distribution?
c If Kathleen retires from MH and then receives a $ distribution from her traditional k how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
d If Kathleen retires from MH and then receives a $ distribution from her Roth k how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
e Assume the original facts except that Kathleen is years of age, not If Kathleen receives a $ distribution from her Roth kwithout retiring how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
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