Q: What are the tax consequences of taking a qualified birth or adoption distribution?
A: The distribution is included in gross income, but there is no 10% additional tax imposed on it. And it may not increase above $5,000 for anticipated taxes.
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Q: What are the tax consequences of taking a qualified birth or adoption distribution?
A: The distribution is included in gross income, but there is no 10% additional tax imposed on it. And it may not increase above $5,000 for anticipated taxes.
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