Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed...
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Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,500 to his Roth IRA, and the balance in the account is $21,500. In the current year, Jimmer withdrew $20,150 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 20 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? Note: Leave no answers blank. Enter zero if applicable. Problem 13-77 Part a (Algo) a. Jimmer opened the Roth account 44 months before he withdrew the $20,150 and Jimmer is 62 years of age. Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,500 to his Roth IRA, and the balance in the account is $21,500. In the current year, Jimmer withdrew $20,150 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 20 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? Note: Leave no answers blank. Enter zero if applicable. Problem 13-77 Part b (Algo) b. Jimmer opened the Roth account 44 months before he withdrew the $20,150 and Jimmer is age 53 . Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,500 to his Roth IRA, and the balance in the account is $21,500. In the current year, Jimmer withdrew $20,150 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 20 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? Note: Leave no answers blank. Enter zero if applicable. Problem 13-77 Part c (Algo) c. Jimmer opened the Roth account 76 months before he withdrew the $20,150 and Jimmer is age 62 . Required information Problem 13-77 (LO 13-4) (Algo) [The following information applies to the questions displayed below.] Jimmer has contributed $18,500 to his Roth IRA, and the balance in the account is $21,500. In the current year, Jimmer withdrew $20,150 from the Roth IRA to pay for a new car. If Jimmer's marginal ordinary income tax rate is 20 percent, what amount of tax and penalty, if any, is Jimmer required to pay on the withdrawal in each of the following alternative situations? Note: Leave no answers blank. Enter zero if applicable. Problem 13-77 Part d (Algo) d. Jimmer opened the Roth account 76 months before he withdrew the $20,150 and Jimmer is age 53
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