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Calculate the early distribution penalty tax

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Question - Heather, age 48, is the sole remaining participant of a money purchase pension plan. The plan is terminated and a $240,000 taxable distribution is made to Heather. Calculate the early distribution penalty tax, if any, for 2019?

A: $0

B: $12,000

C: $24,000

D: $30,000

E: None of these

Reference no: EM132465412

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