When Given a Choice Between Making a Contribution to a Roth

question 23

True/False

When given a choice between making a contribution to a Roth IRA or to a nondeductible traditional IRA,the taxpayer should choose the Roth IRA.

---

Definitions:

Customer Safety

Procedures, policies, and actions taken by a business to ensure the safety and well-being of its customers.

Capital Guidelines

Regulatory standards that determine the minimum amount of capital that banks and other financial institutions must hold, designed to ensure stability and manage risk.

Banking Regulators

Authorities or bodies that supervise and oversee the banking industry to ensure stability, consumer protection, and adherence to laws.

Noncomplying Banks

Banks that fail to adhere to specified regulations, standards, or laws set by banking regulators or supervisory authorities.