When an individual reaches the age of 70½ but does not withdraw the "minimum withdrawal" amount:
A) There is a 50 percent excise tax on the shortfall
B) There is a 50 percent tax on the entire account
C) There is a 50 percent tax on the taxable portion
D) There is a 50 percent tax on the nontaxable portion
E) None of the above will apply
Correct Answer:
Verified
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