Please answer all of these questions

1. Generally, distributions from a retirement plan are subject to income tax as ordinary income. Which of the following tax treatments is not an exception to ordinary income on a distribution from a qualified plan?

a. 401(k) loan

b. Non-recognition of gain treatment

c. IRA rollovers

d. Net unrealized appreciation

2. Mindy, who is 44 years old, has five IRAs. On January 12th, she converts $40,000 in IRA 2, which is a traditional IRA, into a Roth IRA. On March 25th, she takes a distribution of $20,000 from IRA 1. On May 20th, she rolls over the $20,000 into IRA 4. Which of the following statements is correct?

a. Mindy owes tax and penalty on $40,000

b. Mindy owes tax and penalty on the $20,000 because it represents her second rollover during the year

c. The $20,000 rollover qualifies for the 60-day rollover exception

d. Mindy owes ordinary income tax on $60,000, but no penalty

3. Which of the following distributions from a profit-sharing plan would not be subject to the 10 percent early withdrawal penalty, assuming the participant has not attained age 59?

a. A distribution made from an IRA that was established for a 50-year old spouse under a Qualified Domestic Relations Order (QDRO) pursuant to a divorce from the participant in the profit-sharing plan

b. A distribution from the plan to a participant who lost his right leg above the knee in a car accident

c. A distribution to pay for costs of higher education for a participants 18 year-old daughter

d. A distribution made to the participant after she separated from service at age 57

4. In January, Donnas dad, 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 Donnas dad do?

a. Request a waiver of the 60-day rollover requirement from the IRS or use the self-certification process.

b. Pay the income tax and seek relief from the financial advisor

c. Pay the income tax

d. Pay the income tax and move his funds to a new advisor