Business, 21.04.2020 16:52 mohayon2020

Cara, who is 42 years old, had some unexpected medical expenses during the year. To pay for these expenses (which were claimed as itemized deductions on her tax return), she received a $10,000 distribution from her traditional IRA (she has only made deductible contributions to the IRA). Assuming her marginal ordinary income tax rate is 22%, what amount of taxes and/or early distribution penalties will Cara be required to pay on this distribution

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Cara, who is 42 years old, had some unexpected medical expenses during the year. To pay for these ex...

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