LO3 Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates, LLC During 2009, she turns 70 and begins withdrawing the $320,000 in assets (balance as of December 31, 2008) in her pension account Her pension plan is a qualified noncontributory plan a Wha...

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LO3 Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville

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LO3 Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates, LLC. During 2009, she turns 70½ and begins withdrawing the $320,000 in assets (balance as of December 31, 2008) in her pension account.

Her pension plan is a qualified noncontributory plan.

a. What is the required minimum distribution that Felicia must take?

b. Assume that the pension plan account balance on December 31, 2009, is

$301,000. What is Felicia’s minimum required distribution for 2010?

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Concepts In Federal Taxation 2011

ISBN: 9780538467926

18th Edition

Authors: Kevin E. Murphy, Mark Higgins

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Question Posted: Jul 18, 2024 07:07 AM

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LO3 Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville

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Concepts In Federal Taxation 2011

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