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help please. Ralph has a $130,000 IRA with Red Investments. For personal reasons, he decides to move his funds to Blue Investments. He requests that
help please.
Ralph has a $130,000 IRA with Red Investments. For personal reasons, he decides to move his funds to Blue Investments. He requests that his funds be distributed to him on August 20, 2020. a. What amount will Ralph receive from Red Investment? b. What is the last day Ralph can deposit the funds from Red Investments and avoid taxation in the current year? c. If the funds were distributed from a qualified retirement plan (not an IRA), how much would Ralph receive? d. Assuming the funds were distributed from a qualified retirement plan, not an IRA, how much will Ralph have to contribute to Blue Investments to avoid taxable income and any penaltiesStep by Step Solution
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