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Mike (Age 40)is Purchasing His Second Home for $200,000 with a 25

Question 85

Multiple Choice

Mike (age 40) is purchasing his second home for $200,000 with a 25% down payment.He will withdraw some of the down payment from his IRA.He will have to pay ____ on the IRA withdrawal.


A) federal income taxes
B) an early withdrawal penalty
C) Social Security taxes
D) a and b
E) a,b,and c

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