Kerry Is Single and Has AGI of $25,000 in 2013

question 80

Multiple Choice

Kerry is single and has AGI of $25,000 in 2013.During the year he contributes $5,000 to his Roth IRA.What is the amount of qualified retirement savings contributions credit to which he is entitled?

• A)$200
• B)$400
• C)$800
• D)$1,000

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Definitions:

Shared Ideas

Concepts, thoughts, or innovations communicated between individuals or groups leading to collective understanding or development.

Consumption

The action or process of using up goods and services, typically by individuals or households.

Economic

Pertains to the production, distribution, and consumption of goods and services, and the management of resources.

Psychographic Differences

Variations in consumers' lifestyle, values, and personality traits that affect buying behaviors and can be used for market segmentation.