Mr.Scott,age 46,quit his job with MNP Inc.and withdrew the $184,000 balance in his Section 401(k) plan.Mr.Scott immediately deposited the withdrawal in a new rollover Roth IRA with a local bank.Which of the following statements is false?
A) Mr.Scott must include the $184,000 withdrawal in gross income.
B) Mr.Scott must begin receiving distributions from the rollover Roth IRA by age 70½
C) Future qualified withdrawals from the rollover Roth IRA will be nontaxable.
D) None of the statements is false.
Correct Answer:
Verified
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