Which of the Following Statements Regarding Traditional IRAs Is True

question 46

Multiple Choice

Which of the following statements regarding traditional IRAs is true?

• A)Once a taxpayer reaches 55 years of age she is allowed to contribute an additional $1,000 a year.
• B)Taxpayers with high income are not allowed to contribute to traditional IRAs.
• C)Taxpayers who participate in an employer-sponsored retirement plan are allowed to deduct contributions to a traditional IRA regardless of their AGI.
• D)A single taxpayer with no earned income is not allowed to deduct contributions to traditional IRAs.

---

Definitions:

Psychodynamic Therapy

A therapeutic approach focusing on understanding the influence of the unconscious mind on behaviors, drawing on psychoanalytic theories to uncover root causes of psychological distress.

Social Exchange Theory

A theoretical framework that posits social behavior is the result of an exchange process aimed at maximizing benefits and minimizing costs in relationships.

Systems Theory

An interdisciplinary theory about the nature of complex systems, emphasizing interconnections and the influence of subsystems on the whole.

Learning Theory

A conceptual framework that describes how individuals acquire, process, and retain knowledge through experience.