Which of the Following Statements Regarding Roth IRA Distributions Is

question 27

Multiple Choice

Which of the following statements regarding Roth IRA distributions is true?

• A)A distribution is not a qualified distribution unless the distribution is at least two years after the taxpayer has opened the Roth IRA.
• B)A taxpayer receiving a distribution from a Roth IRA before reaching the age of 55 is generally not subject to an early distribution penalty.
• C)A Roth IRA does not have minimum distribution requirements.
• D)The full amount of all nonqualified distributions is subject to tax at the taxpayer's marginal tax rate.

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Definitions:

Accounts Receivable

Money owed to a company by its debtors for goods or services that have been delivered or used but not yet paid for.

Bonds

Fixed-income investments representing a loan made by an investor to a borrower, typically corporate or governmental, with terms defining the interest rate and maturity date.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding cost of goods sold (COGS).

Tax Liability

The total amount of tax that an individual or corporation is legally obligated to pay to an authority as the result of the occurrence of a taxable event.