How much of the distribution to herself is pre-tax amount

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Reference no: EM131999022

1. Ben Zeen, age 49, had his retirement assets of $100,000 in a qualified profit sharing 401k arrangement. He decided to indirectly rollover the qualified plan assets into another qualified plan as he had recently changed jobs. He took possession of the assets on day 1 and indirectly rolled over the assets into the new qualified plan on day 45. How much money did Ben receive from his old employer as part of the indirect rollover?

$80,000

Cannot be determined

$100,000

$20,000

2. Gina is 57 and has made after tax contributions to her qualified plan of $50,000 in addition to tax-deferred contributions of $150,000. She recently retired and has decided to rollover into a traditional IRA $150,000 while paying out to herself $50,000. How much of the distribution to herself is pre-tax amount?

$50,000

$12,500

$37,500

$17,500

Reference no: EM131999022

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