Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Adjustments to Income Workout

Penalties for Early Withdrawal

Skills Warm Up: Penalty on Early Withdrawal

Question 1 of 1

A penalty for early withdrawal of funds from a savings account may be charged when the depositor withdraws funds _____.

From an ordinary savings account
Before a certain amount of interest accumulates
Before the maturity date for a time deposit
Any of the above