Scenario 5

Antonio, age 60, retired from Walmart Inc. after 38 years of service. During his employment, he maintained a 401(k) plan with a tax basis of $0. During his first year of retirement, he elected to make a $145,000 partial distribution from his 401(k) account. Canhe roll over the $145,000 to an IRA? Explain your answer How are subsequent withdrawals from his 401(k) plan going to be taxed?

Answer rating: 100% (QA)

Yes Antonio can roll over the 145000 to an IRA Heres why Age Antonio is 60 years old which satisfies ... View the full answer