Jonathon,age 50 and in Good Health,withdrew $6,000 from His Pension

question 69

Multiple Choice

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?

• A)$0
• B)$200
• C)$400
• D)$600

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Definitions:

Quarrelsome

Inclined to argue or dispute, often demonstrating a tendency toward conflict rather than agreement.

Psychoanalytic Theory

A framework for understanding human psychology that emphasizes unconscious conflicts and past experiences as determinants of behavior.

Defense Mechanisms

Unconscious psychological strategies employed to protect oneself from anxiety and to manage emotional conflict and internal or external stressors.

Anxiety

A mood of unease or nervousness, often due to something happening soon or because the consequence is unknown.