Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. manuel's home was destroyed in hurricane irma and

Manuel's home was destroyed in Hurricane Irma and he qualified for a disaster distribution. He...

70.2K

Verified Solution

Question

Accounting

Manuel's home was destroyed in Hurricane Irma and he qualified for a disaster distribution. He withdrew $85,000 from his IRA on October 30, 2017, which he included in his gross income on his 2017 tax return. In 2019, Manuel was able to deposit $60,000 in his IRA. What is the tax treatment of the $60,000 deposit?

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

Q

Henry is a 60 year-old, white college man who woke due to intense and worsening pain in...

Medical Sciences
Q

Which one of the following pairs is not correctly matched? (a) syphilis – Trichnris trichiura (b) sleeping sickness...

Biology
Q

A buffer contains 0.11 mol of propionic acid (C2H5COOH) and 0.17 mol of sodium propionate (C2H5COONa)...

Chemistry
Q

Design a structure using primitive material so that 1000W store fire can keep the internal temperature...

Physics
Q

Focusing on industrial buying behavior, write a 2-3 page paper explaining the industrial market. Explain all...

General Management
Q

The volume of this triangular prism is 189 036 cubic meters What is the value...

Geometry
Q

Find the value of m for which h(x) =continuous function.(A) 7-?37(B) -3(C) 3(D) 7(E) 7+?375x-13,...

Calculus
Q

particle given its velocity function Question Given that a particle travels according to the velocity...

Calculus
Q

Explain the reverse logistics process and its implications for supply chain design

Accounting
Q

Use the information provided below to calculate the amount earned by Joan on 19 July...

Accounting
Q

The stockholders' equity accounts of Pronghorn Corp. on January 1, 2022 were as follows. Preferred...

Accounting
Q

Conduct Applied Research on Accounting and the Relevance to Financial Reporting. A detail Research...

Accounting