Question: Choose the true statement Select one: a. If funds are withdrawn from an annuity during the accumulation period, no federal income tax is paid. b.

Choose the true statement

Select one:

a. If funds are withdrawn from an annuity during the accumulation period, no federal income tax is paid.

b. If funds are withdrawn from an annuity during liquidation, no federal income tax is paid.

c. If funds are withdrawn from an annuity before age 59, there is a federal income tax penalty in addition to the ordinary income tax.

d. If funds are withdrawn from an annuity, and the annuitant is older than age 75, no federal income tax is paid.

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