Question: Question 10 (1 point) Thomas is 49 years old and has a Roth account balance in his employer's 401(k) plan. On August 11th he took

 Question 10 (1 point) Thomas is 49 years old and has

Question 10 (1 point) Thomas is 49 years old and has a Roth account balance in his employer's 401(k) plan. On August 11th he took a distribution of $100,000 from the account to buy himself a sports car. At that time, his adjusted basis in the plan was $600,000 and the Fair Market Value was $1,000,000. What is the taxable amount of the distribution, and the amount of the tax penalty? O 1. $40,000 taxable, $0 penalty 1. $0 taxable. $0 penalty 1. $40,000 taxable, $4,000 penalty 1. $100.000 taxable, $10,000 penalty

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