8. Taxpayers who make after-tax contributions to a qualified employer plan recover their investment (cost) when they begin to take periodic payments. How is the after-tax contribution recovered?

a. UP front

b. Last

c. A portion is recovered each, until fully recovered.

d. A portion is recovered each year, for the first ten years.

9. Walter reached age 70 and half in September of 2015. By what date is he required to begin taking the required minimum distribution from his traditional IRA?

a. 1-APR-16

b. 31-Dec-15

c. 15- APR-16

d. 31-DEC-16

10. When a taxpayer receives Form 1099-R with no amount entered in box 2a and code 7 in the box 7, the entire destruction:

a. Is most likely taxable

b. Has been rolled into a traditional IRA or into another qualified plan

c. Is never table

d. Is at least partially non-taxable