If a Taxpayer Receives an Early Distribution from an IRA

question 35

True/False

If a taxpayer receives an early distribution from an IRA due to disability, he or she will not be subject to a penalty.

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Definitions:

Deed

A legal document that represents the ownership of a property and can transfer that ownership from one party to another.

Statute Of Frauds

A legal concept that requires certain kinds of contracts to be written and signed in order to be enforceable.

Parol Evidence Rule

A rule that prevents a party from introducing evidence that would add to or contradict terms of a contract.

Under Seal

A legal formality indicating that a document's signature is genuine and that the signer intends to adhere to the terms of the document.