If an individual, aged 44, takes a withdrawal from his Individual Retirement Account, which statement is TRUE?

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If an individual, aged 44, takes a withdrawal from his Individual Retirement Account, which statement is TRUE?

A. The amount withdrawn is subject to income tax only

B. The amount withdrawn is subject to a 10% penalty tax only

C. The amount withdrawn is subject to income tax plus a 10% penalty tax

D. The amount withdrawn is not subject to any tax

Answer: C.

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