Which of the Following Statements Concerning Traditional IRAs and Roth

question 29

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.See discussion in text.

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