Lisa, age 46, needed some cash so she withdrew $56,500 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 $21,300 to her account. What amount of the distribution is taxable and subject to early distribution penalty? Multiple Choice $0. $5,650 $35,200.

Lisa, age 46, needed some cash so she withdrew $56,500 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 $21,300 to her account. What amount of the distribution is taxable and subject to early distribution penalty? Multiple Choice $0. $5,650 $35,200.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter15: Preparing Adjusting Entries And A Trial Balance

Section: Chapter Questions

Problem 4AP

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