Jeremy,age 38,has $25,000 in a traditional IRA account and is considering taking the money out to buy himself a new car.What will be the tax consequences to Jeremy if he withdraws the $25,000 from his IRA in 2017 for this purpose? Explain.

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The Answer of Jeremy,age 38,has $25,000 in a traditional IRA account and is considering taking the money out to buy himself a new car.What will be the tax consequences to Jeremy if he withdraws the $25,000 from his IRA in 2017 for this purpose? Explain.

Jeremy,age 38,has $25,000 in a Traditional IRA Account and Is