Question

When a taxpayer receives form 1099-R with no amount entered in box 2a and code7 in box 7 the entire distribution:

□Mark for follow up Que Question 6 of 75 Which of the following distributions is eligible for rollover treatment O The required minimum di work and is an active participant in his current employer's qualified plan. O A hardship distribution. By the time the distribution was received, the taxpayer no longer faced the hardship O A distribution of excess deferrals made to a taxpayer because they were a highly-compensated employee who unknowingly paid too much into their employer's qualified plan. ® A 55-year-old surviving spouse's distribution from a 60-year-old decedent's qualifhied plan. The decedent was employed at the time of death. □Mark for follow up Question 7 of 75. When a taxpayer receives Form 1099-R with no amount entered in box 2a and code 7 in box 7 (with the IRA box checked). the entire distribution: 。Is most likely taxable. O Has been rolled into a traditional RA or into another qualified plan. O Is most likely not taxable. O Is at least partially non-taxable. Mark for follow up Ted, age 41, files single. He earned $52,875 in wages and had no other income in 2017.On April 14 of 2018, he filed f automatic six-month extension to file his tax return. Three weeks later, on May 5, he timely filed his 2017 tax return. statement best describes his eligibility to contribute to an IRA on May 5? Question 8 of 75. ontribution hefore the due date for the tax return, he is not eligible to make an IRA cont

Answer 1

Solution: Is most likely taxable.

　

Explanation: In Box 7, Code 7 on Form 1099-R designates a normal distribution, and identify the distributions that whether is it subject to an additional 10% tax, thus will be most likely taxable.