Withdrawals from a traditional IRA prior to age ___ are taxable and must pay a ___ tax penalty.
A) 59 ½; 10%
B) 62; 5%
C) 65; 7 ½ %
D) 63 ½; 5%
Correct Answer:
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Q6: Tax shelters _.
A) postpone payment of tax
Q13: The Social Security system _.
A) is financed
Q19: It would be costly to provide wage
Q22: A study by Spivak and Kotlikoff (1981)showed
Q25: In 2009,the income cap on social security
Q28: An IRA-style tax shelter will defer _
Q29: If your marginal tax rate is 15%
Q31: As you get older, you decide to
Q32: Taxes are applied to the _.
A) real
Q38: How many years of Social Security contributions
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