Suppose you are 30 years old, have a 401(k) plan with a $10,000 balance (all contributions...
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Suppose you are 30 years old, have a 401(k) plan with a $10,000 balance (all contributions were pre- tax), and quit your job. If you receive the proceeds of your 401(k) in cash and are in the 15% income tax bracket, then you owe in taxes and penalties this tax year. Suppose you are 30 years old, have a 401(k) plan with a $10,000 balance (all contributions were pre- tax), and quit your job. If you receive the proceeds of your 401(k) in cash and are in the 15% income tax bracket, then you owe in taxes and penalties this tax year.
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If you withdraw the entire 10000 balance of your 401k plan ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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