Retirement Plans

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

A distribution from a corporate pension plan to be rolled over into an IRA must be completed within how many days to maintain its tax-deferred status?

60 days.

SEP IRA

An employee age 50 or older is permitted to make catch-up contributions to a SEP.

Coverdell ESA

Contributions to an ESA are not tax deductible

Qualified distributions from Roth IRAs are...

Tax Free

Roth IRA

The maximum annual contribution to a Roth IRA is 100% of earned income, not to exceed a maximum allowable dollar limit Contributions are made with after-tax dollars.

A member firm's customer is requesting that IRA contributions converted from a traditional IRA to a Roth IRA now be moved back to a traditional IRA. This is

a re-characterization and is allowed by the IRS so long as certain requirements are met

Minimum distributions from a traditional IRA must begin

by April 1, the year after the owner turns 70½.

403(b)

employees of nonprofit organizations (such as hospitals and schools) may make tax-deductible contributions from their paychecks into a retirement plan operated through their employer


Set pelajaran terkait

Security+ CompTIA Exam Questions

View Set

CHAPTER 15 - FEMALE REPRODUCTIVE, MATERNITY & NEWBORNS

View Set

Practice Questions for 401 Exam 1

View Set

Adrenergics (carvedilol, clonidine, doxazosin)

View Set

Marine Biology Chapter 20 - Tides, Waves, and Currents

View Set

Chapter 10 ■ Incident Response and Recovery ExamQ

View Set