Question 1: Paul, who is single and age 58, is a participant in a qualified plan and expects to receive annuity payments of $3,000 per month. He has an adjusted basis in the qualified plan in the amount of $124,000.
How much of each annuity distribution to Pat must be included as ordinary income when he files his federal income tax return
Question 2: Describe qualified plan loans and their limitations.
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Question 3: What is the limit on contributions (annual limit, catch-up limit, and maximum contribution) to an IRA for 2023?