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

question 76

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 $51,000.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.

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

White Privilege

The societal privileges that benefit white people beyond what is commonly experienced by non-white people under the same social, political, or economic circumstances.

Unearned Advantage

Privileges and benefits one receives without effort or merit simply because of societal biases towards certain groups.

Racial Projects

Racial Projects encompass the socio-political processes that classify human bodies into racial categories, assigning meaning and value, which influence social structures and identities.

Cultural Representations

Refers to how cultures and their practices, beliefs, and values are depicted and interpreted through various forms of media and art.