Which of the Following Statements Is True Regarding Taxpayers Receiving

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 73 in 2020 must pay a required minimum distribution penalty if she does not receive a distribution in 2020.
B) The required minimum distribution penalty is 25 percent 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 percent penalty on both the distributed and undistributed portions of her retirement account unless the distribution is a coronavirus-related distribution of $100,000 or less.
D) Taxpayers are not allowed to deduct either early distribution penalties or required minimum distribution penalties.