Fte Following Statements Made About the Phaseout of Deductible Contributions

question 12

Multiple Choice

fte following statements made about the phaseout of deductible contributions to IRAs are false, except:

• A) If one spouse is a participant in a qualified plan for any part of the taxable year, the other spouse may not make deductible IRA contributions, even if the parties file joint returns.
• B) A de minimis rule provides that a minimum deductible contribution may be made in the amount of $200 regardless of the amount of adjusted gross income.
• C) fte income phaseout limits for making deductible IRA contributions do not apply if neither taxpayer nor taxpayer's spouse participates in a qualified employer-sponsored retirement plan.
• D) If an individual is precluded from making deductible IRA contributions, such individual also may not roll over a distribution from a qualified plan on a tax-deferred basis.

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Definitions:

Job Rotation

A strategy where employees rotate between different positions within an organization to learn new skills and gain varied experience.

Effective Types

Refers to various categories or methods that have been proven through results or research to achieve desired outcomes efficiently.

Mentoring

Mentoring is a personal developmental relationship where a more experienced or knowledgeable person helps to guide a less experienced or less knowledgeable person.

Stand-Alone Method

A technique or intervention that is used independently rather than in combination with other methods.