For Married Taxpayers Filing a Joint Return in 2013,at What

question 76

Multiple Choice

For married taxpayers filing a joint return in 2013,at what AGI level does the phase-out limit for contributions to Qualified Tuition Programs Section 529 plans) start?

• A)$150,500
• B)$188,150
• C)$225,750
• D)There is no phase-out limit on Qualified Tuition Program contributions

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Definitions:

Interest

The cost of borrowing money, typically expressed as an annual percentage of the loan amount.

Bank

A financial institution licensed to receive deposits, make loans, and offer various financial services, such as currency exchange and wealth management.

Compound Rate

The rate at which interest is earned on both the initial principal and the accumulated interest from previous periods.

Savings Account

An account in a bank or financial institution where the main amount is safe and earns a small amount of interest.