If a Married Taxpayer Is an Active Participant in Another

question 115

True/False

If a married taxpayer is an active participant in another qualified retirement plan,the traditional IRA deduction phaseout begins at $98,000 of AGI for a joint return in 2015.

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Definitions:

Equity

Refers to the ownership interest held by shareholders in a corporation, represented by the company's common and preferred stock.

Call Option

A financial contract that gives the holder the right, but not the obligation, to buy a stock or another security at a specified price before the contract expires.