Business
Business, 05.12.2019 17:31, orangeicecream

Telly, age 38, has a $139,800 ira with blue mutual fund. he has read good things about the management of green mutual fund, so he opens a green fund ira. telly asked for and received his balance from the blue fund on may 1, 2018. telly opted to have no withholding on the distribution.
a. what is the total amount telly will receive from the blue fund ira? $in many situations, taxpayers need to transfer assets from one retirement plan to another plan ofthe same or different type. there are two ways this transfer can be accomplished: (1) direct transfer, also known as a trustee-to-trustee transfer, and (2) rollover of the distribution, in whole or in part, to an ira or other qualified plan. there are potentially different tax treatments for the two types of transfers. b. what amount must telly contribute to the green fund ira to avoid having taxable income and penalties for early withdrawal? $c. when is the last day telly can roll over the amount received into the green fund ira and avoid taxation in the current year, assuming no unusual circumstances? june 30, 2018d. what amount will telly initially receive if the distribution were from his employer's qualified retirement plan? $

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Telly, age 38, has a $139,800 ira with blue mutual fund. he has read good things about the managemen...

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