If an investor chooses to take a premature distribution from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn. The money is also taxed as ordinary income in the year the investor withdraws it.
Updated: 13 October 2016. Although it is best known for its cultural and artistic advancements, the Italian Renaissance was also a period of significant scientific progress too. We take a look at some of the eraâs most interesting inventions, from Leonardo da Vinciâs parachute to Galileoâs precursor to the modern thermometer.
The Medicis were patrons of many great renaissance figures such as Donatello, Leonardo da Vinci (refer to Topic two, Chapter three), Brunelleschi, Michelangelo and Botticelli. See Image four. See Image five. Image 1 - Italy's Renaissance began in the northern cities of Genoa, Florence and Venice. Image 2 - The historic city-centre of Genoa. This was one of Italy's greatest sea ports during the Middle Ages. Image 3 - Venice, a city built on water, is famous for its unique system of canals.