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In January, Pierce, who is 75 years old, agreed in an email with his financial advisor that he wanted to take a distribution of $50,000
In January, Pierce, who is 75 years old, agreed in an email with his financial advisor that he wanted to take a distribution of $50,000 from his IRA and roll it over into a new IRA. His financial advisor inadvertently moved the funds into a taxable account. This mistake was discovered by the advisor at the end of the year and corrected. As a result, the $50,000 will be treated as a taxable distribution. What should Pierce do?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
