28. Tom quits his job with $120,000 in his employers qualified retirement plan. Since he is broke,...
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28. Tom quits his job with $120,000 in his employer’s qualified retirement plan. Since he is broke, Tom instructs the plan trustee to pay him the balance in his retirement account. How much will Tom receive when he gets his check from the retirement plan?
a. $120,000
b. $100,000
c. $96,000
d. $24,000
e. Some other amount LO 3.7
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Related Book For
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller
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