andreawiles01 andreawiles01

14-10-2022
Mathematics

Answered

Kathy Runde, age 66 and retired, receives a $20,000 partial distribution from her 401(k) plan. The plan does not pay out an annuity. Immediately before the distribution, her account balance is $50,000, including $10,000 in nondeductible contributions. How much of the $20,000 distribution must Kathy include in gross income?

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