In 2017,Billie Decides to Purchase a House by Withdrawing $15,000

question 72

Multiple Choice

In 2017,Billie decides to purchase a house by withdrawing $15,000 from her IRA.Billie qualifies as a first-time home- buyer.The $15,000 consists of $12,600 in nondeductible contributions and $2,400 in income earned on the plan's assets.Billie will have to pay an early withdrawal penalty of

• A)$-0-
• B)$240
• C)$500
• D)$1,260
• E)$1,500

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Definitions:

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed.

Psychological Symptoms

Manifestations of mental or emotional distress, which can include mood swings, anxiety, depression, or abnormal behavior.

Depression

A mental health disorder featured by persistently low mood, a sense of despair, and a lack of interest or pleasure in life, affecting daily functioning.

Stimulus Motive

An innate tendency to respond to stimuli in the environment in a certain manner, driven by needs for exploration, manipulation, and activity.