Feng, a Single 40- Year- Old Lawyer, Is Covered by a Qualified

question 2198

Multiple Choice

Feng, a single 40- year- old lawyer, is covered by a qualified retirement plan at work. His salary is $115,000, and his total AGI is $129,000. The maximum contribution he can make to a Roth IRA in 2018 is

• A) $3,300.
• B) $5,500.
• C) 0.
• D) $2,200.

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Definitions:

Run with the Land

Legal terms or conditions that are attached to a piece of land and bind both current and future owners.

Binding

describes an agreement or contract that is legally enforceable and obligates the parties to its terms.

Original Parties

The initial entities or individuals who enter into a contract or agreement.

Restrictive Covenant

Legal agreements restricting certain actions of a party, often related to employment, real estate, and business transactions, to protect business interests.