An Individual,age 40,who Is Not Subject to the Phase-Out Provision

question 58

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 2011.

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Definitions:

Renal Failure

A medical condition where the kidneys lose their ability to filter waste and excess fluids from the blood effectively.

Genus

A class or group of entities that share a common characteristic distinct from other groups; in taxonomy, a way to categorize species with shared traits.

Concept Definition

Concept definition involves clearly outlining the essential characteristics and defining attributes of a concept to distinguish it from other concepts.

Consistent

A relation between two or more statements that are both true on at least one assignment of truth values to their atomic components.