How is a contribution to a Roth 401(k) treated for income tax purposes: a.it is not...

80.2K

Verified Solution

Question

Accounting

How is a contribution to a Roth 401(k) treated for income tax purposes: a.it is not excludible from the employee’s gross income b.it is excluded, just like a contribution to a normal 401(k) plan c.it is subject to a 10 percent penalty d.it is not includible as income for employees with an adjusted gross income of $100,000 or less

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students