If a Married Taxpayer Is an Active Participant in Another

question 47

True/False

If a married taxpayer is an active participant in another qualified retirement plan, the traditional IRA deduction phaseout begins at $99,000 of AGI for a joint return in 2017.

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Definitions:

Saponification

A chemical reaction involving the hydrolysis of esters in fats with alkali, resulting in the formation of soap and glycerol.

Tristearin

A triglyceride derived from glycerol and three units of stearic acid, commonly found in fat and oils.

Triolein

A triglyceride derived from glycerol and three oleic acid molecules, predominantly found in vegetable oils.

Transition Metal Catalyst

A catalyst that involves the use of a transition metal, which speeds up chemical reactions without being consumed.