Current Attempt in Progress Margaret is 45 years old and single and works for Bonita...
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Current Attempt in Progress Margaret is 45 years old and single and works for Bonita Company. She has participated in her company's qualified retirement plan for the last 20 years. Margaret resigned from her position as a manager at Bonita and accepts a new position at Windsor Company. Because she has terminated her employment with Bonita Company, she receives a cash distribution of the $205,000 balance in her retirement plan on October 10 of the current tax year. Margaret used $9,800 of the money to take a well needed vacation and madea rollover contribution of the $195,200 remainder to another qualifved retirement plan on November 20 . What is the total tax cost of the withdrawal if Margaret is in the 24% marginal tax bracket? Total tax cost
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