Question

PLEASE HELP ASAP!!!

Question: Adriana has borrowed $30,000 from her IRA in order to fund her startup cost. How late long does she have to replace the money without incurring a 10% premature—withdrawal fee?

A): 60 days

B): 90 days

C): 120 days

Answer 1

You can't borrow against your IRA account, but you can withdraw funds for 60 days without being subject to the 10 percent penalty tax. If you need the money for 60 days or less, an IRA withdrawal can act as a short-term loan

so A:60 days