Laura contributed $78,000 (including employer match) of pre-tax salary to her 401(k) plan over the years. In 2022, at age 62, she retires and takes a distribution of $25,000 when the 401(k) has an account balance of $164,000. Compute the taxable portion of Laura’s distribution.

Laura contributed $78,000 (including employer match) of pre-tax salary to her 401(k) plan over the years. In 2022, at age 62, she retires and takes a distribution of $25,000 when the 401(k) has an account balance of $164,000. Compute the taxable portion of Laura’s distribution.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 24CE

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