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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I have an old employee stock plan from a job I used to work

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I have an old employee stock plan from a job I used to work that has never been rolled into anything new. It is now an Etrade Securities Stock Plan Program. Would this qualify as an 401k or retirement plan and thus exempt from my bankruptcy estate?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.
Hi JACustomer,
Is this an IRS-qualified tax-deferred plan?
Customer: replied 4 years ago.

Well that's what I can't seem to figure out.

Expert:  cfortunato replied 4 years ago.
Did you have to pay income tax on the value of the stocks that went into the plan?
Customer: replied 4 years ago.
I don't think so. I haven't contributed since 2003. It was through an old employer.
Expert:  cfortunato replied 4 years ago.

Your question is in the Bankruptcy Law section, where I can only tell you that if this is an IRS-qualified tax-deferred retirement plan - whereby the income put into the plan was not taxed at the time it was deposited - then the plan would be exempt from the Bankruptcy estate.

However, I cannot tell you whether or not your plan is an IRS-qualified tax-deferred retirement plan. Perhaps you can find this out by asking this in the Tax or Employment Law sections.

When you do ask this question in the Tax or Employment Law sections, you should not mention the word "Bankruptcy" - which is irrelevant to your question - as mentioning "Bankruptcy" will result in a transfer of your question to the Bankruptcy Law section.

Customer: replied 4 years ago.
Okay. Thanks!
Expert:  cfortunato replied 4 years ago.
You're welcome!
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