Kathy Runde, age 66 and retired, receives a $20,000 partial distribution from her 401(k) plan. The plan
Question:
Kathy Runde, age 66 and retired, receives a $20,000 partial distribution from her 401(k) plan. The plan does not pay out an annuity. Immediately before the distribution, her account balance is $50,000, including $10,000 in nondeductible contributions. How much of the $20,000 distribution must Kathy include in gross income?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
Question Posted: