PLEASE ANSWER BOTH PARTS Allie received a $50,000 distribution from her 401(k) account this...
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PLEASE ANSWER BOTH PARTS
Allie received a $50,000 distribution from her 401(k) account this year that she established while working for Big Stories, Inc. Assume that her marginal ordinary tax rate is 24 percent. Problem 13-52 Part a (Static) a. Allie is 45 and still employed with Big Stories, Inc. How much tax and penalty will Allie pay on the distribution? Tax and penalty b. Allie is 56 and was terminated from Big Stories, Inc. this year. How much tax and penalty will Allle pay on the distribution? Tax and penalty
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