Homework Answers
The following statements are correct
1) Distributions from qualified plans and IRAs require 20% mandatory withholding for federal income taxes if a trustee-to-trustee direct transfer is not used to execute a rollover.
2)A taxpayer is limited to 1 rollover in a 1-year period (on a
365 day basis) unless therollover is a trustee-to-trustee direct
transfer.
So 1 and 2 are correct.
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