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

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