Insurance MCQFederal Tax Considerations For Life Insurance and also AnnuitiesAn employee quits her project where she has a balance of $10,000 in her qualified arrangement. If she decides to perform a straight carry from her setup to a Traditional IRA, exactly how much will be transferred from one plan administrator to another and what is the tax consequence of a straight transfer


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An employee quits her task where she has actually a balance of $10,000 in her qualified plan. If she decides to do a direct transport from her arrangement to a Classic IRA, just how a lot will be transferred from one arrangement administrator to another and also what is the tax consequence of a straight transfer
Federal Tax Considerations For Life Insurance and also Annuities
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An employee quits her job where she has actually a balance of $10,000 in her qualified plan. If she decides to carry out a straight move from her arrangement to a Timeless IRA, exactly how a lot will be transferred from one plan administrator to another and also what is the taxation consequence of a direct transfer

A) $10,000, no tax consequence

B) $8,000, no taxes consequence

C) $8,000, tax on expansion only

D) $10,000, tax on development only

Answer: $10,000, no tax consequence


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