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all 4 please UM IUFTOW up Question 42 of 75. Kimberley opened a Roth IRA on November 13, 2016. She has made regular deposits and
all 4 please
UM IUFTOW up Question 42 of 75. Kimberley opened a Roth IRA on November 13, 2016. She has made regular deposits and would like to know the earliest date she can withdraw some of her money in a qualified distribution. Her date of birth is September 17, 1961. 1/1/2021 3/17/2021 9/17/2021 11/14/2021 Mark for follow up Question 43 of 75. Each of the following rollovers is considered an eligible rollover distribution EXCEPT: Levi has left his employer and has directed the trustee of the employer plan to directly transfer the balance of his account to his traditional IRA. Levi has no after-tax contributions to the plan. U Evangeline has two traditional IRAs that are not performing as well as her third traditional IRA. She has requested distributions from the first and second IRAs and plans to deposit the proceeds in the third IRA within 60 days. Caden has decided to consolidate his five traditional IRAs. He has notified the trustee of each IRA to send the account balance to a new, sixth traditional IRA. Abigale changed jobs this year. She had a 401(k) at her old job. Her new job has a 401(k) plan, as well. She has requested for the trustee of the old plan to send her account balance to the trustee of the plan at her new employer. Mark for follow up Question 44 of 75. A lump sum election allows a taxpayer to: Elect ten-year averaging on the lump-sum payment. Evenly allocate the lump-sum benefit over the current year and the prior years Include the social security benefits received for prior years in current-year benefits. Treat a lump sum social security benefit as if the benefits for prior years had been received in those years. Mark for follow up Question 45 of 75. For a beneficiary to receive a qualified distribution from a Roth IRA, who must meet the five-year requirement? The Roth IRA owner only The beneficiary, after taking distributions Both the owner and the beneficiary. Either the owner or the beneficiary, before taking distributions. UM IUFTOW up Question 42 of 75. Kimberley opened a Roth IRA on November 13, 2016. She has made regular deposits and would like to know the earliest date she can withdraw some of her money in a qualified distribution. Her date of birth is September 17, 1961. 1/1/2021 3/17/2021 9/17/2021 11/14/2021 Mark for follow up Question 43 of 75. Each of the following rollovers is considered an eligible rollover distribution EXCEPT: Levi has left his employer and has directed the trustee of the employer plan to directly transfer the balance of his account to his traditional IRA. Levi has no after-tax contributions to the plan. U Evangeline has two traditional IRAs that are not performing as well as her third traditional IRA. She has requested distributions from the first and second IRAs and plans to deposit the proceeds in the third IRA within 60 days. Caden has decided to consolidate his five traditional IRAs. He has notified the trustee of each IRA to send the account balance to a new, sixth traditional IRA. Abigale changed jobs this year. She had a 401(k) at her old job. Her new job has a 401(k) plan, as well. She has requested for the trustee of the old plan to send her account balance to the trustee of the plan at her new employer. Mark for follow up Question 44 of 75. A lump sum election allows a taxpayer to: Elect ten-year averaging on the lump-sum payment. Evenly allocate the lump-sum benefit over the current year and the prior years Include the social security benefits received for prior years in current-year benefits. Treat a lump sum social security benefit as if the benefits for prior years had been received in those years. Mark for follow up Question 45 of 75. For a beneficiary to receive a qualified distribution from a Roth IRA, who must meet the five-year requirement? The Roth IRA owner only The beneficiary, after taking distributions Both the owner and the beneficiary. Either the owner or the beneficiary, before taking distributionsStep by Step Solution
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