This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: All of the following are circumstances under which withdrawals from a traditional IRA may be made ... (Read 55 times)

nmorano1

  • Hero Member
  • *****
  • Posts: 598
on: Jul 11, 2018
All of the following are circumstances under which withdrawals from a traditional IRA may be made prior to age 59.5 without incurring a substantial penalty EXCEPT
 
  A) The withdrawal is in substantially equal installments paid over the individual's life expectancy.
  B) The withdrawal is used to pay living expenses after unemployment insurance benefits cease.
  C) The distribution is to the beneficiary of a deceased IRA owner.
  D) The withdrawal is because of income needed due to the individual's disability.

Question 2

Which of the following statements is (are) true with regard to IRAs? I. Contribution limits are higher for workers aged 50 and older. II. The minimum distribution rules after attainment of age 70.5 do not apply to Roth IRAs.
 
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ergserg

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: C


nmorano1

  • Member
  • Posts: 598
Reply 2 on: Jul 11, 2018
Excellent

ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

The Movius line separates regions of the world where Acheulean hand axes were made from regions wher The Movius line separates regions of the world where Acheulean hand axes were made from regions wher
A healthy diet is made up of well-balanced nutrients. A healthy diet is made up of well-balanced nutrients.
Use dye specifically made for coolant when checking for leaks using a black light. Use dye specifically made for coolant when checking for leaks using a black light.
Have you wondered what Nutella made of! Have you wondered what Nutella made of!
Photosynthesis: How Glucose Is Made During photosynthesis, the leaves of green plants absorb Photosynthesis: How Glucose Is Made During photosynthesis, the leaves of green plants absorb
The traditional human karyotypes derived from a normal female and a normal male The traditional human karyotypes derived from a normal female and a normal male
Video: Passive Smoke Exposure

For a complete list of videos, visit our video library