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Author Question: Generally, there are tax penalties for withdrawals from a traditional IRA before the age of (Read 80 times)

Redwolflake15

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on: Apr 14, 2019

Question 1

Which of the following is 
not a characteristic of a traditional IRA?


◦ For a married couple, the contribution limit doubles.
◦ Individuals over 50 are allowed to make additional catch-up contributions.
◦ Everyone is eligible for deductible contributions regardless of income.
◦ A 10% penalty normally applies if funds are withdrawn before age 59 1/2.

Question 2

Generally, there are tax penalties for withdrawals from a traditional IRA before the age of


◦ 59 1/2.
◦ 60.
◦ 67 full retirement age.
◦ All of these.
Personal Finance ¦ Madura ¦ 6th Edition
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Marked as best answer by Redwolflake15 on Apr 14, 2019

fdliggud

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Reply #1 on: Apr 14, 2019
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Redwolflake15

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Reply 2 on: Apr 14, 2019
Wow, this really help

shewald78

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Reply 3 on: Yesterday
Excellent

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