Contributions to a Roth IRA

question 19

Multiple Choice

Contributions to a Roth IRA:
I.May be rolled-over from a regular IRA in a nontaxable transaction.
II.May be tax deductible.
III.Are not taxed when withdrawn if they have been in an established account for at least five years and the taxpayer is at least 59¹/₂ before withdrawals are made.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Only statement III is correct.
• D)Statements I, II, and III are correct.

---

Definitions:

Balance Per Bank

The amount of money a company's records show in its bank account, often reconciled with the bank's records for accuracy.

Balance Per Books

The amount shown in a company's accounting records, as opposed to the actual cash balance or balance reported by a bank.

Cash Disbursement Transactions

Financial activities involving the payment of cash from a business to vendors, employees, or other entities.