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when miles separated from service with his former employer he had a $10,000 outstanding balance in...

when miles separated from service with his former employer he had a $10,000 outstanding balance in an employer plan loan he received a Total distribution of $30,000 without regards to the loan that check he received was for 14000 mandatory withholding was $6,000 how much of the distribution is taxable

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Answer #1

Ansewr: The outstanding balance in the employer plan loan was $10000 The total distribution received, net of loan outstanding, is $30000 Total of benfit is S30000 which is eligible for the tax purpose, thus the taxable distribution is $30000. ->

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