Which of the Following Taxpayers Qualifies for the Maximum Individual

question 17

Multiple Choice

Which of the following taxpayers qualifies for the maximum individual retirement account deduction for 2016?

• A)Married taxpayers, neither of whom is covered by a qualified retirement plan, with total adjusted gross income, all earned, of $85,000
• B)A single taxpayer, who is covered by a qualified retirement plan, with adjusted gross income of $80,000
• C)A single taxpayer, who is not covered by a qualified retirement plan, with no earned income but with unearned income of $12,000
• D)Married taxpayers, only one of whom is covered by a qualified retirement plan, with total adjusted gross income of $195,000
• E)None of the above qualify for the maximum deduction

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Definitions:

Narcissistic

Pertaining to narcissism, a personality trait characterized by an inflated sense of self-importance, need for admiration, and lack of empathy for others.

Rank-Order Consistency

The principle that individuals maintain the relative ordering of their personality traits or behavior compared to others across time or situations.

Mean-Level Change

A statistical term describing the change in the average score of a population on a certain measure over time.

Neuroticism

An attribute of one's character identified by changeable temperaments, unease, and unpredictable emotional reactions.