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Xelga [282]
3 years ago
9

Jamie is 42 years old and received a $20,000 distribution for his roth ira established in 2009. at the time of distribution, the

roth ira account totaled 33,748: $18,000 regular contributions, $10,000 taxable conversion contributions made in 2014, and 5,748 earnings. how much of his distribution is taxable and subject to the early distribution penalty?
Business
1 answer:
Leviafan [203]3 years ago
3 0
<span>The rules for the Roth early distribution are as follows : Unless an exception applies, most distributions from a Roth IRA before the owner reaches age 59 1/2 will be subject to an "early withdrawal penalty" of 10% on the amount of the distribution. This is IF a person has kept the amount in the account for his required five year tax period rule. If this condition has been met, the total penalty would be $ 2000.00</span>
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Which of the following are examples of debt overhang? Which examples are likely to lead to a cutback in spending?
kvv77 [185]
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3 years ago
Kết luận sự thích ứng tâm lý của sinh viên năm nhất
Mamont248 [21]

Answer:

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4 0
3 years ago
The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Ne
alexgriva [62]

Answer and Explanation:

The journal entry to deposit the FICA and FIT taxes is as follows:

FICA OASDI $2,244.10  

FICA HI $524.83  

FIT W/H $6,515.00  

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(Being to record deposit the FICA and FIT taxes)

Here the FICA OASDI FICA HI FIT W/H is debited and the cash is credited

So the same is to be considered

5 0
2 years ago
Luther Corporation Consolidated Balance Sheet December​ 31, 2006 and 2005​ (in $​ millions) Assets 2006 2005 Liabilities and ​St
aliina [53]

Answer:

C. 1.3

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market to book ratio = $163,200 / $125,600 = 1.299 ≈ 1.3

The market to book ratio basically measures a company markets value versus its book value. Generally, if a company is profitable and successful, its market to book ratio should be higher than 1.

6 0
3 years ago
If you are falling behind on your student loan payments, which of the following steps should you take to avoid default?
larisa86 [58]
The correct answer among all the other choices is "Contact your lender." If you are falling behind on your student loan payments, this is the step you should take to avoid default. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help. 
7 0
3 years ago
Read 2 more answers
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