Which of the Following Statements Regarding Traditional IRAs Is True

question 17

Multiple Choice

Which of the following statements regarding traditional IRAs is true?

• A)Once a taxpayer reaches age 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:

Insulin

A hormone that enhances glucose intake to the cells.

Blood Sugar Levels

The concentration of glucose present in the blood, crucial for maintaining energy supply and overall health; imbalances can indicate diabetes or other health issues.

Stimulate

To encourage or cause an increase in activity or enhancement in a biological, physical, or cognitive process.

Alzheimer's Disease

A progressive neurological disorder characterized by memory loss, cognitive decline, and personality changes, leading to severe dementia.