YariMuno2095 YariMuno2095

04-11-2022
Business

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danielle williams is a 29-year-old single taxpayer who changed jobs during the year. when she left her first job, she decided to take a total distribution from the 401(k) plan she had established with her former employer. she then used the proceeds to make a down payment on a new car. in early 2022, she received the following form 1099-r reporting the distribution. her only other income was from wages, and her 2021 taxable income was $51,350. what will be the amount of the penalty for the early withdrawal from her 401(k) plan, if any?

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