Robin is 65 years old and single/divorced with 2 children. She first contributed to a Roth IRA three years ago. Her contributions to date are $6,000. In additional she converted her Traditional IRA to a Roth IRA last year. The conversion was in the amount of $20,000. The Roth IRA is currently valued at $40,000. If she takes a distribution of $35,000 from the Roth IRA what will the tax consequences be? 

1. All of the distribution will be subject to income tax and it will be subject to the 10% penalty for the early withdrawal. 

2. None of these choices. 

3. None of the distribution will be subject to income tax. All of the distribution will be subject to the 10% penalty for the early withdrawal. 

4. There will be no income tax consequence as distributions from a Roth IRA are tax free. She will be subject to a 10% penalty for the early withdrawal. 

5. Part of the distribution will be subject to income tax. None of the distribution will be subject to the 10% penalty for the early withdrawal.

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