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A friend has told Gabe he can take a lump-sum distribution from his Section 401(k)...

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Accounting

A friend has told Gabe he can take a lump-sum distribution from his Section 401(k) account upon leaving his current employer but keep and hold the employer stock that is currently held in his account. Please confirm whether this is possible and explain the process to be able to keep the employer stock and detail the applicable tax consequences of making this election.

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