Question: * * * * * * * Scenario 5 0 : Daniel, age 5 0 , is a military reservist called to active duty. He

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Scenario 50:
Daniel, age 50, is a military reservist called to active duty. He takes a $25,000 distribution from his Traditional IRA.
Wages: $40,000
Interest and Dividend income: $900
Itemized Deductions: $14,000
Allowable deduction for self-employment tax: None
Calculate:
The portion of the distribution subject to the 10% early withdrawal penalty.
AGI (Adjusted Gross Income)
Taxable Income
Total Tax Liability

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