Amount of withdrawal after tax considerations

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Reference no: EM13126474

Brooklyn has been contributing to a traditional IRA for seven years (all deductible contributions) and has a total of $30,000 in the account. In 2010, she is 39 years old and has decided that she wants to get a new car. She withdraws $20,000 from the IRA to help pay for the car. She is currently in the 25 percent marginal tax bracket. (Omit the "tiny_mce_markerquot; sign in your response.)

Required:

What amount of the withdrawal, after tax considerations, will Brooklyn have available to purchase the car?

Reference no: EM13126474

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