When Miles separated from service with his former employer, he had a $10,000 outstanding balance in an employer plan loan. He received a total distribution of $30,000 without regard to the loan. The check he received was for $14,000. Mandatory withholding was $6,000. How much of the distribution is taxable
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Home » Business » When Miles separated from service with his former employer, he had a $10,000 outstanding balance in an employer plan loan. He received a total distribution of $30,000 without regard to the loan. The check he received was for $14,000.