TQ$38$ Which of these statements regarding a nonqualified Roth IRA distribution is false?

I. Conversion amounts may avoid the $10\%$ penalty for the conversion portion

II$.$ Earnings will always incur a $10\%$ penalty for that portion of the distribution

III. A distribution from an inherited Roth IRA could be subject to income tax

IV$.$ A distribution made before the $5-$year period may not be subject to the $10\%$ penalty

a$.$ II only

b$.$ I, III, &$,$ IV

c$.$ IV only

d$.$ II & III