A 50-year old becomes disabled and wishes to withdraw money from his IRA. With regard to the withdrawal, how will it be taxed?

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A 50-year old becomes disabled and wishes to withdraw money from his IRA. With regard to the withdrawal, how will it be taxed?

A. There will be no tax due

B. The withdrawal is subject to income tax only

C. The withdrawal is only subject to penalty tax only

D. The withdrawal is subject to both income tax and a penalty tax for early withdrawal

Answer: B.

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