palmtree2759
10.06.2021 •
Business
Tom Lewis, age 50, withdraws an amount from his IRA to purchase a race horse. All contributions to his IRA by Tom were deductible contributions. Which of the following are the tax consequences for Tom in regard to this IRA withdrawal?
Withdrawal amount included in gross income
10% early withdrawal penalty added to total tax
Options:
a) I only
b) Neither I nor II
c) Both I and II
d) II only
Solved
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Ответ:
a
Explanation:
a
Ответ:
M