Stephanie is 60 years old and is in the 30% tax bracket. Fifteen years ago, she established a Roth IRA that now has a balance of $62,180. She would like to buy a new car and is considering using the funds from her Roth IRA. If she withdraws $20,000 from her account, she will Group of answer choices

Options are "a. pay $6,000 in taxes b. not have to pay taxes on her withdrawal, c. have to pay payroll taxes. d. have to pay a 10% penalty on her withdrawal."

For the year 2020, if the age of the person making the withdrawal is more than 59 1/2 years and the balance in Roth IRA account is kept for more than 5 years then, the funds in such account can be withdrew without any taxes and penalties and that too without any conditional requirements.

divyamadaan8054 divyamadaan8054 · Answer 2 · 2022-03-03T18:22:34+01:00

According to the question, she withdraws $20,000 from her account, "she will not have to pay taxes on her withdrawal".

What is the term IRA about?

The full form of IRA is Individual Retirement Account. This account is considered as the beneficiary account at the time of retirement as it allow to take tax advantage.

In case of year 2020, if the age of the person making the withdrawal is more than 59 1/2 years and the balance in Roth IRA account is kept for more than 5 years then, the funds in such account can be withdrew without any taxes and penalties and that too without any conditional requirements.

Learn more about tax bracket, refer to the link:

https://brainly.com/question/7629788