Question
Harshim made after-tax contributions to his employer's qualified plan of $7,000. At the time he requested a nonperiodic distribution, his account balance was $49,000. He
Harshim made after-tax contributions to his employer's qualified plan of $7,000. At the time he requested a nonperiodic distribution, his account balance was $49,000. He received a one-time distribution of $14,000. How much of the distribution is tax free?
a.$0
b. $2000
C. $7000
d. $14,000
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Capital Market Instruments Analysis And Valuation
Authors: M. Choudhry, D. Joannas, G. Landuyt, R. Pereira, R. Pienaar
3rd Edition
0230576036, 9780230576032
