Angelica cashed out her 401(k) in 2021 and the total distribution was $8,000. She used the money to take a cruise with her Mom and Dad. Angelica had no other income in 2021. Angelica is single, 30 years old, and subject to the Additional Tax of 10% for an early distribution. Does she have to file a Form 1040 for Tax Year 2021? O Yes O No

Angelica cashed out her 401(k) in 2021 and the total distribution was $8,000. She used the money to take a cruise with her Mom and Dad. Angelica had no other income in 2021. Angelica is single, 30 years old, and subject to the Additional Tax of 10% for an early distribution. Does she have to file a Form 1040 for Tax Year 2021? O Yes O No

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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