Which of the Following Statements Concerning Traditional IRAs and Roth

question 3

Multiple Choice

Which of the following statements concerning traditional IRAs and Roth IRAs is true?

• A)A taxpayer may contribute to a Roth IRA at any age but a taxpayer is not allowed to contribute to a traditional IRA after reaching 70½ years of age.
• B)The annual contribution limits for a traditional IRA and Roth IRA are the same.
• C)Taxpayers with high income are allowed to contribute to traditional IRAs but not to Roth IRAs.
• D)All of these choices are correct.

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Definitions:

Tsunami

A tsunami is a series of ocean waves with extremely long wavelengths caused by large-scale disturbances such as underwater earthquakes, volcanoes, or landslides.

Ground Ruptures

Cracks or breaks in the Earth's surface caused by seismic activity, such as earthquakes, which can lead to significant damage to the built environment.

Seismic Station

A facility equipped with seismographs and other instruments to detect and record earthquakes and other ground vibrations.

Epicenter

The point on the Earth's surface directly above the focus of an earthquake, where the seismic waves are felt most strongly.