The Real Halloween
Level 7
09-20-2021
08:02 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
TP wants to receive an early distribution of $16,000 and he is subject to 10% penalty ($1,600) and his marginal tax rate is 24% ($3,840).
What is the gross-up amount TP needs to liquidate in order for him to get $16,000, to withhold 10% penalty ($1,600) and 24% tax ($3,840)?
Thanks for your time and advice.
Best Answer Click here
Labels