Allie received a $50,000 distribution from her 401(k) account this year that she established while...
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Accounting
Allie received a $50,000 distribution from her 401(k) account this year that she established while working for Big Stories Inc. Assuming her marginal ordinary tax rate is 25 percent, how much tax and penalty will Allie pay on the distribution under the following circumstances?
A. Allie is 45 and still employed with Big Stories Inc.
B. Allie is 56 and was terminated from Big Stories Inc. this year.
C. Allie is 67 and retired.
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