In 2013,Billie decides to purchase a house by withdrawing $15,000 from his IRA.Brandan qualifies as a first-time home- buyer.The $15,000 consists of $12,600 in nondeductible contributions and $2,400 in income earned on the plan's assets.Billie will have to pay an early withdrawal penalty of
A)$ -0-
B)$ 240
C)$ 500
D)$1,260
E)$1,500

Question

Quizplus · Accepted Answer

The Answer of In 2013,Billie decides to purchase a house by withdrawing $15,000 from his IRA.Brandan qualifies as a first-time home- buyer.The $15,000 consists of $12,600 in nondeductible contributions and $2,400 in income earned on the plan's assets.Billie will have to pay an early withdrawal penalty of
A)$ -0-
B)$ 240
C)$ 500
D)$1,260
E)$1,500

In 2013,Billie Decides to Purchase a House by Withdrawing $15,000