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Retirement Intermediate:
IRA Distributions
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1.
Which of the following is not an option for taking IRA distributions?
Choose wisely. There is only one correct answer.
Dividend payments
Systematic loan payments
Withdrawals of equal amounts, taken periodically
Selling shares periodically
Systematic loan payments. Payments may not be made as loans.
2.
The annuity method provides only for the distribution of dividends.
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True
False
False. The money it takes from a fund includes principal as well as all earnings.
3.
IRA contributions that were not taxed when you made them are taxable when you withdraw them.
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True
False
True. They must eventually be taxed.
4.
If you make IRA contributions that are taxed, your withdrawals will not be taxed.
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True
False
False. Remember that earnings are always taxed. However, the contributions referred to in the question will not be taxed.
5.
You may not begin taking normal retirement distributions from your IRA until you reach age 59½.
Choose wisely. There is only one correct answer.
True
False
True. Age 59½ is the minimum allowable age to take normal distributions.
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DONE