Kevin,single,is an Employee of the Colonial Company and Is an Active

question 32

Multiple Choice

Kevin,single,is an employee of the Colonial Company and is an active participant in its pension plan.Kevin's adjusted gross income for the current year is $59,000.Kevin contributes $1,000 to his conventional individual retirement account.Which of the following statements about Kevin contributions and deduction amounts is (are) true?
I.He is allowed to deduct his $1,000 contribution to his conventional IRA.
II.Kevin can also contribute but not deduct $4,500 to his Roth IRA.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

NPDES

National Pollutant Discharge Elimination System, a regulatory program in the United States that issues permits for the discharge of pollutants into waters of the United States.

SIP

Session Initiation Protocol (SIP) is a communication protocol used for signaling and controlling multimedia communication sessions including voice and video calls over Internet Protocol (IP) networks.

Nullity

A legal status indicating that something is void and without legal effect from its inception.

Private Causes of Action

Legal rights allowing individuals to sue for a redress or prevention of wrongs, without government intervention.