1. Problem 9-8 The FICA Tax (LO 9.3)

(COVID provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2020. Of this amount, $2,400 was allocated to sick pay for two weeks due to Trudys spouse contracting COVID and Trudy being quarantined. Trudy spent another 10 weeks at home caring for their children that were unable to attend school. Lamden allocated $10,000 in wages to family leave. Lamden allocated $6,000 of Trudys wages to the employee retention credit (5 weeks). The allocation of health care costs is $200 per week. Compute Lamdens:

Round your answers to two decimal places.

Credit for sick pay	$fill in the blank 1
Credit for family leave	$fill in the blank 2
Employee retention credit	$fill in the blank 3

2. Problem 9-16 Rollovers (LO 9.8)

Telly, age 38, has a $140,000 IRA with Blue Mutual Fund. He has read good things about the management of Green Mutual Fund, so he opens a Green Fund IRA. Telly asked for a distribution rollover and received his balance from the Blue Fund on May 1, 2020. Telly opted to have no withholding on the distribution.

a. What is the total amount Telly will receive from the Blue Fund IRA? $140,000

b. What amount must Telly contribute to the Green Fund IRA to avoid having taxable income and penalties for early withdrawal? $

c. When is the last day Telly can roll over the amount received into the Green Fund IRA and avoid taxation in the current year, assuming no unusual circumstances?

June 30, 2020

d. What amount would Telly receive if the distribution were from his employer's qualified retirement plan? $

I need help with b and d. Can you show me how you got your answer, please.