Roxanne, age 50, has an IRA with an account balance of $165,000. Roxanne has recently been diagnosed with an unusual disease that will require treatment costing $50,000, which she will have to pay personally. Roxanne's AGI will be $100,000 this year. Which of the following statements are true? 

1. Roxanne can immediately borrow up to $50,000 from her IRA account and repay the loan within five years. 

2. Roxanne can distribute $50,000 subject to income tax but not subject to the 10% penalty because it will be used to pay medical expenses.

Answer rating: 100% (QA)

Based on the information provided heres the analysis of the statements 1 Roxanne can immediately bor... View the full answer