Lisa, age 45, needed some cash so she withdrew $10,000 from her Roth IRA. At the time of the distribution, the balance i
Posted: Wed May 04, 2022 4:26 pm
Lisa, age 45, needed some cash so she withdrew $10,000 from her
Roth IRA. At the time of the distribution, the balance in the Roth
IRA was $200,000. Lisa established the Roth IRA 10 years ago. Over
the years, she has contributed $20,000 to her account. What amount
of the distribution is taxable and subject to early distribution
penalty?
A. 30000
B. 0
C. 5000
D. 50000
Roth IRA. At the time of the distribution, the balance in the Roth
IRA was $200,000. Lisa established the Roth IRA 10 years ago. Over
the years, she has contributed $20,000 to her account. What amount
of the distribution is taxable and subject to early distribution
penalty?
A. 30000
B. 0
C. 5000
D. 50000