Currently employed by ubeit corporation

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Reference no: EM131327069

Which of the following qualified plan distributions are subject to a 10% early withdrawal penalty?

1. Carolyn, age 56, currently employed by UBEIT Corporation, takes a $125,000 distribution from the UBEIT 401(k) plan.

2. Brad, age 60, takes a $1,000,000 distribution from his employer’s profit sharing plan. Ten days after receiving the $800,000 check (reduced for 20% withholding), Brad deposited the $800,000 into a new IRA account.

3. Tara, age 22, withdraws $2,000 of her contributions from her 401(k).

Reference no: EM131327069

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