You are 35 years old and desperately need $12,000 for higher education. You take a
distribution from your Roth IRA. Due to your income, you are currently in the 19%
federal'income tax bracket. Calculate the penalty and tax to withdraw $12,000.
No fees, no taxes
O $1.,200 penalty, no tax
$1,200 penalty, $2,280 in taxes
O No penalty, $2,280 in taxes