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III.Are not taxed when withdrawn if they have been in an established account for at least five years and the taxpayer is at least 59¹/₂ before withdrawals are made.
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• 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.

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Definitions:

Acquired

Something that has been obtained or gained, which was not innate or present from birth.

Reparative Therapy

a controversial psychological treatment aimed at changing a person's sexual orientation from homosexual or bisexual to heterosexual, widely discredited by major medical organizations.

Mental Health Organizations

Institutions that provide resources, support, advocacy, and research for individuals dealing with mental health challenges and their families.

Homosexuality

The quality or characteristic of being sexually attracted solely to people of one's own gender.