Question: An individual takes a distribution from a qualified plan at 4 9 to start a business. This distribution will: Cause an excess contribution penally of

An individual takes a distribution from a qualified plan at 49 to start a business. This distribution will:
Cause an excess contribution penally of 10%.
Exclude the premature distribution penaly since it was effective prior to age 50.
Cause a premature distribution penalty if it falls the 100 to 1 test.
Cause a premature distribution penalty of 10%.
An individual takes a distribution from a qualified plan at 49

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