Question: At age 50, Charles began receiving payments u set a distribution method that provides for substantially equal payments over his life. He had no basis

At age 50, Charles began receiving payments u set a distribution method that provides for substantially equal payments over his life. He had no basis in the account. At age 58, after he had received distributions totaling $14,000, he elected to receive the remaining benefits in a lump sum of $155,000. What amount of the total distribution is subject to the early distribution penalty?

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