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Business, 26.11.2019 03:31 adam1299

Carol, age 40, has an ira with blue mutual fund. her balance in the fund is $150,000. she has heard good things about the management of red mutual fund, so she opens a red fund ira. carol requests her balance from the blue fund be distributed to her on july 1, 20xx. she opted to have no withholding on the distribution.

a. how much will carol receive from the blue fund ira?
$150,000

b. if the funds were distributed from a qualified retirement plan (not an ira), how much would carol receive?
$ ?

c. when is the last day carol can roll over the amount received into the red fund ira and avoid taxation in the current year? assume the hardship waiver provisions does not apply.
august 30

d. assuming the funds were distributed from a qualified retirement plan, not from an ira, how much will carol have to contribute to the red fund ira to avoid taxable income and any penalties?
$?

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Carol, age 40, has an ira with blue mutual fund. her balance in the fund is $150,000. she has heard...
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