Which of the Following Statements Concerning Traditional IRAs and Roth

question 82

Multiple Choice

Which of the following statements concerning traditional IRAs and Roth IRAs is true?

• A) A taxpayer may contribute to a Roth IRA at any age but a taxpayer is not allowed to contribute to a traditional IRA after reaching 70½ years of age.
• B) The annual contribution limits for a traditional IRA and Roth IRA are the same.
• C) Taxpayers with high income are allowed to contribute to traditional IRAs but not to Roth IRAs.
• D) All of these are true statements.

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Definitions:

Tabular List

A structured list used for organizing data or information in a table format for easy reference.

Excludes Note

A term used in medical coding to signify that certain conditions are to be coded elsewhere or are not included for coding with the code being referenced.

Includes Note

A term used in medical coding and classification to specify that a particular category or code also includes certain conditions or concepts.

Seventh Characters

In the context of medical coding, additional characters used to provide more specific information about the diagnosis or condition.