Which of the Following Are Characteristics of a Traditional IRA

question 47

Multiple Choice

Which of the following are characteristics of a traditional IRA?

• A)Most distributions made before age 59½ are subject to a 10 percent penalty tax.
• B)A taxpayer must begin taking distributions from the IRA by age 75½.
• C)Neither is a characteristic.
• D)Both are characteristics.

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Definitions:

Independent

Free from outside control; not depending on another's authority or an organization for financial or other support.

Mental Health

A state of well-being in which an individual realizes their own abilities, can cope with normal stresses of life, can work productively, and is able to make contributions to their community.

Canadians

Refers to the citizens of Canada, a country in North America known for its multiculturalism and natural beauty.

One in Five

A statistical expression typically used to indicate a common proportion or ratio, such as one out of every five individuals experiencing a particular condition or event.