Multiple Choice
In 2013,Billie decides to purchase a house by withdrawing $15,000 from his IRA.Brandan 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
Correct Answer:
Verified
Correct Answer:
Verified
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