If a Married Taxpayer Is an Active Participant in Another

question 155

True/False

If a married taxpayer is an active participant in another qualified retirement plan, the traditional IRA deduction phaseout begins at $92,000 of AGI for a joint return in 2012.

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Definitions:

Minerals

Naturally occurring, inorganic substances with a definite chemical composition and crystalline structure.

Charophytes

A group of green algae thought to be the closest relatives of land plants.

Probable Ancestors

The most likely predecessors or early forms of living organisms from which others have descended.

Algae

Photosynthetic, predominantly aquatic organisms, ranging from single-celled forms to giant kelps, that are not classified as plants, animals, or fungi.