Question: 6 ) Peter, age 4 2 , needed some cash so he withdrew $ 1 5 , 0 0 0 from his Roth IRA. At

6) Peter, age 42, needed some cash so he withdrew $15,000 from his Roth IRA. At the time of the distribution, the balance in the Roth IRA was $275,000. Peter established the Roth IRA 13 years ago. Over the years, he has contributed $20,000 to her account. What amount of the distribution is taxable and subject to early distribution penalty? Why?
7) Tankathon Inc., a non-public, privately held company, pays its CEO $1,900,000 and CFO $1,400,000 in salary and bonus in 2024. Assuming that this compensation represents current market value for similar positions, how much of the CFO and CEOs is tax deductible in 2024? Why?

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