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:

Social Class

A division of a society based on social and economic status.

Income

The amount of money received by a person or entity within a specified time-frame, typically from work, investments, or business activities.

Infant Mortality

The death of young children under the age of 1. This rate is often used as an indicator of the level of health in a country.

Postneonatal Paralysis

Paralysis affecting infants after the neonatal period, which is the first four weeks of life, potentially resulting from various causes, including infections, trauma, or congenital conditions.