In 2020, Juergen made after-tax contributions of $24,300 to his employer's qualified plan. In August 2021, he requested a nonperiodic distribution. At that time, his account balance was $78,000 and he received a one-time of $13,000. How much of the is tax-free? distribution distribution
In 2020, Juergen made after-tax contributions of $24,300 to his employer's qualified plan. In August 2021, he requested a nonperiodic distribution. At that time, his account balance was $78,000 and he received a one-time of $13,000. How much of the is tax-free? distribution distribution
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 41P
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Transcribed Image Text:In 2020, Juergen made after-tax contributions of
$24,300 to his employer's qualified plan. In
August 2021, he requested a nonperiodic
distribution. At that time, his account balance
was $78,000 and he received a one-time
distribution of $13,000. How much of the
distribution is tax-free?
$0
$4,050
$11,300
$13,000
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