### Retirement plan and distributions

Assignment Help Accounting Basics
##### Reference no: EM1310526

Martin retired in May 2011. His pension is \$1000 per month from a qualified retirement plan to which is contributed \$48000 and to which his employer contributed \$ 12000 Martins life expectancy from the IRS is mortality tables is ten years, and during 2011 he received total payments of \$8000 from the plan.

1. Using the general rule calculates Martin's taxable income for 2011 from the retirement plan and distributions

2. If martin's contributions to the plan had been \$25000 instead of \$48000 how much taxable income would he have to report in2011 from the plan distribution?

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