Ask Question
BusinessBusiness
24 May, 13:30

Darren is eligible to contribute to a traditional 401 (k) in 2019. He forgot to contribute before year-end. If he contributes before April 15, 2020, he is allowed to treat the contribution as though he made it during 2019.

+1
Answers (1)
  1. 24 May, 16:07
    0
    True

    Explanation:

    Base on the scenario been described in the question which, Darren was eligible to assist to a traditional of 401,000 in 2019, but we were told he forgot and later he paid in 15, June 2020, he is look as though he paid in 2019 because and it is true.

    The reason why the answer is true is that Darren is that the time he paid the money in July 15, 2020, it was still within the time he allowed to still pay for the year 2019, that's why he considered as though he paid in 2019.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Darren is eligible to contribute to a traditional 401 (k) in 2019. He forgot to contribute before year-end. If he contributes before April ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Saying "the marginal costs are greater than the marginal benefits" is the same as saying the average costs are greater than the average benefits. the total costs are greater than the average benefits. the benefits are greater than the costs.
Answers (1)
County governments in Texas:a. are single-purpose governments. b. all operate under the general laws of the state of Texas for the operation of county government. c.
Answers (1)
Sally Mitchell works as a manager at an environmental organization. She is currently working on a global warming project and decides what tasks related to creating awareness about the issue need to be done.
Answers (1)
A company was formed with $61,300 cash contributed by its owners in exchange for common stock. The company borrowed $31,300 from a bank. The company purchased $11,300 of inventory and paid cash for it.
Answers (1)
Cleaners & Solvents, Inc. (CSI), engages in deceptive advertising when it markets its product Dirt Remover as able to kill germs over long periods of time.
Answers (1)
New Questions in Business
On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note, AZC dishonors the note and fails to pay.
Answers (1)
A building with a book value of $54,000 is sold for $63,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.
Answers (1)
What is a diversionary incentive? a. a temptation to switch trading partners to get a better deal b. an opportunity to change international agreements while other states are preoccupied with a conflict c. a payoff for avoiding war d.
Answers (1)
A business may decide to pay employee salaries every week, every two weeks, twice a month, or once a month. True or False?
Answers (1)
Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent annually. It has assets of $5 million with an average maturity of 5 years earning interest rates of 6.0 percent annually.
Answers (1)
Home » Business » Darren is eligible to contribute to a traditional 401 (k) in 2019. He forgot to contribute before year-end. If he contributes before April 15, 2020, he is allowed to treat the contribution as though he made it during 2019.
Sign Up Forgot Password?