During 2015,Marcia,who Is Single and Is Covered Under a Pension

question 47

Multiple Choice

During 2015,Marcia,who is single and is covered under a pension plan at work,contributes $5,500 into a Roth IRA.If her AGI is $65,000,which of the following is true?

• A)All of the contribution is deductible.
• B)None of the contribution is deductible.
• C)She must withdraw all of the contribution immediately since she is covered under a plan at work.
• D)Only 60% of the contribution is deductible since her AGI exceeds $61,000 by $4,000 and her maximum contribution is phased out by 40%.

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Definitions:

Interpretative Reactions

Responses or interpretations by individuals or groups to events or situations, often influenced by their own experiences, attitudes, and beliefs.

Fraternal Deprivation

A feeling of discontent experienced by individuals when perceiving that their group unfairly receives less resources or opportunities compared to other groups.

Egoistic Deprivation

A feeling of lacking personal resources or benefits that one believes they deserve, leading to dissatisfaction or resentment.

Escape Panic

Intense, irrational, and often self-destructive behavior that occurs in groups facing real or perceived threats.