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Business, 04.01.2021 20:10 blazecarley

Marshall suffered economic loss due to a qualified disaster. He took a distribution from his 401(k) and received the funds on January 5, 2020. Which statement is TRUE? a) Marshall may not deposit any portion of the funds to his IRA, because hardship distributions are not eligible for rollover
b) Marshall will pay a 10% early distribution penalty on any portion of the funds that are subject to tax
c) The distribution will be taxed over a three-year period, unless Marshall chooses to include the full amount on his 2020
d) Marshall may recontribute any portion of the distribution into the original 401(k) before January 5, 2024 return
e) Mark for follow up

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