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  3. Study Set
    Taxation of Individuals
  4. Exam
    Exam 13: Retirement Savings and Deferred Compensation
  5. Question
    Taxpayers Withdrawing Funds from an IRA Before They Turn 70½
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Taxpayers Withdrawing Funds from an IRA Before They Turn 70½

Question 3

Question 3

True/False

Taxpayers withdrawing funds from an IRA before they turn 70½ are generally subject to a 10 percent penalty on the amount of the withdrawal.

Correct Answer:

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