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What penalty would she incur

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Question - Nora Beck is 80 and has an IRA with a fair market value of $350,000.

a) Use the Uniform Life Table on p. 47 to determine her required minimum distribution.

b) What penalty would she incur if she failed to take the distribution?

c) What penalty would she incur if she had made an early withdrawal of $20,000 to pay for her grandchild's college education?

Reference no: EM133189407

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