Question 19 (2.942 points) Saved Tae-Won quits his job at Samsung Group and joins Apple, Inc. The balance in his Samsung Group 401(k) account is $1 million. Tae-Won elects to close out his 401(k) account at Samsung Group, receive a 401(k) distribution check, and 59 days later, to deposit the check amount into his new 401(k) account at Apple, Inc. No other deposits are made into his new 401(k) account. Tae-Won is subject to ordinary income tax and a 10% penalty on a $200,000 nonqualified distribution from the old 401(k) account. True False