Secure httpa m/dientlM Frames.aspeai,sid-AcClytkmpwHLLGNcdvo Retirement Income T

Question

Secure httpa m/dientlM Frames.aspeai,sid-AcClytkmpwHLLGNcdvo Retirement Income Taxation Exam Question 22 of 25 Select the best answer John resigned from his job and became an independent contractor. His previous employer is one of his customers, and the duties he now performs for the former omployer are substantially the same as what he did before he resigned. He has recelved a distribution from his employer's retirement plan. If he claims that the distribution qualifies as an LSD, which of the following is least lkely to concem the IRS? A. Whether he has satiated the separation-from-servke nule B. Whothor he has sarisfied the severance-of-employment rues CWhothor he rs doing essentialy the same job the did whon he was emplored D. Whether the distribution was fram a quaided pian

Explanation / Answer

Answer would be option C- whether he is doing the same job he did when he was employed.

John started working as an independent contractor, it is not a concern for IRS that he is having same job profile or not. What shall be considerale is whehter he has satisfied the seperation from service rule, severance of employment rules and distribution was from a qualified plan.

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