Which of the Following Statements Regarding IRAs Is False

question 114

Multiple Choice

Which of the following statements regarding IRAs is false?

• A) Taxpayers who participate in an employer-sponsored retirement plan may be allowed to make deductible contributions to a traditional IRA.
• B) The ability to make deductible contributions to a traditional IRA and nondeductible contributions to a Roth IRA may be subject to phase-out based on modified AGI.
• C) A taxpayer may contribute to a traditional IRA in 2018 but deduct the contribution on her 2017 tax return.
• D) Taxpayers who have made nondeductible contributions to a traditional IRA are taxed on the full proceeds when they receive distributions from the IRA.

---

Definitions:

Self-concept

An individual's perception and evaluation of themselves, encompassing beliefs, feelings, and thoughts about one's abilities, appearance, and values.

Self-esteem

Self-esteem is an individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.

Parentification

A process where a child is forced to assume adult roles and responsibilities within the family, often due to the incapacity or absence of parents.

Emerging Adulthood

The period of life between the ages of 18 and 25. Emerging adulthood is now widely thought of as a distinct developmental stage.