Get more out of your subscription*
- Access to over 100 million course-specific study resources
- 24/7 help from Expert Tutors on 140+ subjects
- Full access to over 1 million Textbook Solutions
*You can change, pause or cancel anytime
Question
Answered step-by-step
Asked by ave3388
Sophie takes a nonqualifying distribution from her Roth IRA that...
Sophie takes a nonqualifying distribution from her Roth IRA that includes a principal of $2,000 and earnings of $400. In a nonqualifying distribution, penalties are 10% of the taxable portion of the income.
Therefore, Sophie has to pay a penalty of __________.
- $40
- $180
- $200
- $240
Answer & Explanation
Solved by verified expert
Answered by pmagallones614434
- itur laoreet. Nam risu
Unlock full access to Course Hero
Explore over 16 million step-by-step answers from our library
Subscribe to view answerStep-by-step explanation
Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus
or nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Done