Patrick Is Age 30, Single, and Has AGI of $101,000

question 117

Multiple Choice

Patrick is age 30, single, and has AGI of $101,000. He would like to contribute to a Coverdell Education Savings Account (CESA) for his niece, Eileen. What is the maximum CESA contribution Patrick can make for Eileen in 2015?

• A) $0.
• B) $1,200.
• C) $1,500.
• D)$2,000.

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Definitions:

Temporal

Relating to time or the sequential order in which events occur.

Casual

An informal, relaxed approach or style, often applied to dress codes, conversation, or workplace environment.

Intuitive Judgments

Decision making that is based on instinctive feelings rather than conscious reasoning or detailed analysis.

Devil's Advocate

An individual who puts forward a controversial view with the aim of sparking discussion or assessing the robustness of counterarguments.