When taxpayer receive distribution from qualified retirement plans, how many time is allowed to roll over the amount received into a new plan to avoid paying taxes on the distribution in the current year, assuming there are no unusual events? 60 days

When taxpayer receive distribution from qualified retirement plans, how many time is allowed to roll over the amount received into a new plan to avoid paying taxes on the distribution in the current year, assuming there are no unusual events? 60 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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When taxpayer receive distribution from qualified retirement plans, how many time is allowed to roll over the amount received into a new plan to avoid paying taxes on the distribution in the current year, assuming there are no unusual events?
60 days
1 year
180 days

d 90 day

There is no time limit

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