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Author Question: Jonathon, age 50 and in good health, withdrew $6,000 from his pension plan during the current year. ... (Read 86 times)

ap345

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on: Sep 13, 2020

Question 1

Jing, who is single, paid educational expenses of $16,000 in 2016. He redeemed Series EE bonds and received principal of $8,000 and interest of $3,000. Jing's has other adjusted gross income of $81,550.  With respect to the $3,000 of bond interest, Jing must include in taxable income
◦ $0.
◦ $1,400.
◦ $1,600.
◦ $3,000.

Question 2

Jonathon, age 50 and in good health, withdrew $6,000 from his pension plan during the current year. The withdrawal was not eligible for any exception to the 10% penalty. Jonathon had made $40,000 of after-tax contributions to the plan while his employer had contributed $80,000. In addition to relevant income taxes, how much penalty must Jonathon pay?
◦ $0
◦ $200
◦ $400
◦ $600
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by ap345 on Sep 13, 2020

frogdreck123456

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ap345

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

shewald78

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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