During 2017,Marcia,who Is Single and Is Covered Under a Pension

question 93

Multiple Choice

During 2017,Marcia,who is single and is covered under a pension plan at work,contributes $5,500 into a Roth IRA.If her AGI is $66,000,which of the following is true?

• A)All of the contribution is deductible.
• B)None of the contribution is deductible.
• C)She must withdraw all of the contribution immediately since she is covered under a plan at work.
• D)Only 60% of the contribution is deductible since her AGI exceeds $62,000 by $4,000 and her maximum contribution is phased out by 40%.

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Definitions:

Customary Norms

Rules of behavior that are based on long-standing practices or traditions within a society or group.

Informal Deviance

Behaviors that violate informal social norms or expectations, which are not codified into law.

Legal Code

A coherent set of laws that are systematically arranged, usually by the government or other regulatory authority.

Differential Association Theory

Theory that interprets deviance as behavior one learns through interaction with others.