Check my work 13 Sherry, who is 52 years of age, opened a Roth IRA...
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Check my work 13 Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $12,300 to the Roth IRA ($4,100 a year). The current value of the Roth IRA is $17,700. In the current year, Sherry withdraws $15,400 of the account balance to purchase a car. Assuming Sherry's marginal tax rate is 24 percent, how much of the $15,400 withdrawal will she retain after taxes to fund her car purchase? 1.38 points Amount of withdrawal eBook Non-taxable amount Amount subject to tax Tax rate % Print Penalty rate % Tax Penalty References After tax withdrawal retained
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