Kathleen, age 5 6 , works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth
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Question:
Kathleen, age works for MH Incorporated in Dallas, Texas. Kathleen contributes to a Roth k and MH contributes to a traditional k on her behalf. Kathleen has contributed $ to her Roth k over the past six years. The current balance in her Roth k account is $ and the balance in her traditional k is $ Kathleen needs cash because she is taking a month of vacation to travel the world. Answer the following questions relating to distributions from Kathleen's retirement accounts assuming her marginal tax rate for ordinary income is percent.
e Assume the original facts except that Kathleen is years of age, not If Kathleen receives a $ distribution from her Roth kwithout retiring how much will she be able to keep after paying taxes and penalties, if any, on the distribution?
Related Book For
Taxation Of Individuals And Business Entities 2019 Edition
ISBN: 9781259918391
10th Edition
Authors: Brian C. Spilker, Benjamin C. Ayers, John Robinson, Edmund Outslay, Ronald G. Worsham, John A. Barrick, Connie Weaver
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