Which of the Following Statements Is True Regarding Taxpayers Receiving

question 74

Multiple Choice

Which of the following statements is true regarding taxpayers receiving distributions from traditional defined contribution plans?

• A)A taxpayer who retires at age 71 in 2013 is required to pay a minimum distribution penalty if she does not receive a distribution in 2013.
• B)The minimum distribution penalty is 30% of the amount required to have been distributed.
• C)A taxpayer who receives a distribution from a retirement account before she is 55 years old is subject to a 10% penalty on both the distributed and undistributed portions of her retirement account.
• D)Taxpayers are not allowed to deduct either early distribution penalties or minimum distribution penalties.Early distribution and minimum distribution penalties are not tax deductible.

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Definitions:

Mucous Membranes

The moist tissue lining body cavities and passages that are in contact with the external environment, including the mouth, nose, and digestive tract.

Supportive Tissue

Biological tissue that provides structural and mechanical support to organs and body structures.

Repeat Trauma

Continuous or recurring physical injury to the same part of the body, often leading to compounded health issues.

Excessive Growth

Abnormally high increase in size, number, or both, which can refer to organisms, cells, or bodily structures.