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.

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Definitions:

Variables Value

A variable's value is the specific data or information that the variable holds in memory at any given time during a program's execution.

Indexed Variables

Indexed Variables refer to elements within an array or a collection that can be accessed via an index or a key.

Initializer Lists

Initializer lists in programming are used to initialize the member variables of a class with specific values at the time of object creation.

ArrayIndexOutOfBounds

An exception thrown in programming when an attempt is made to access an element of an array beyond its bounds.