Question: * * * * * * Scenario 5 : Jessica, age 4 5 , is a military reservist called to active duty. She takes a

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Scenario 5:
Jessica, age 45, is a military reservist called to active duty. She takes a $20,000 distribution from her Traditional IRA.
Wages: $35,000
Interest and Dividend income: $700
Itemized Deductions: $10,000
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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