An Individual, Age 40, Who Is Not Subject to the Phase-Out

question 70

True/False

An individual, age 40, who is not subject to the phase-out provision may contribute a deductible amount to a Roth IRA up to $5,000 per year in 2012.

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Definitions:

NFC

Near Field Communication, a short-range wireless technology that enables the exchange of data between devices over about a 4 cm distance, commonly used for contactless payments.

Short-range

Describes communication or transmission technologies designed to work over short distances.

Wireless Network

A method of communication that uses radio waves to connect devices to the internet and to each other without the use of wires.

War Driving

War driving is the act of searching for Wi-Fi wireless networks by a person in a moving vehicle, using a portable computer, smartphone, or personal digital assistant (PDA).