When Lisa lost her job , she had an account balance of $25000 in her 401(k). She also had an outstanding 401(k) plan loan of $9000 secured by that balance. She made no after-tax contributions. If Lisa is unable to repay the loan and elects to take it as a distribution, what is the mandatory withholding?

Question 3 of 75 Joan made deductible contributions to traditional retirement accounts for several years. in 2017, she decides to withdraw O Joan must report the entire amount of $10,000. $10,000 from one o f her accounts. Joan is 62 years old. How does this transaction affect her 2017 tax return? Joan does not have to report anything because she is over age 50% O Joan does not have to report any amount because the withdrawal was not from a Roth IRA O Joan must report the distribution she received but can elect to use the ten-year option