Under a Roth IRA, 1. any taxpayer may contribute and deduct up to $6,000 deductible contributions per year. I. the maximum annual contribution is phased out for unmarried taxpayers with adjusted gross income between $124,000 and $139,000. Oa. Only statement I is correct. Ob. Only statement II is correct. Oc. Both statements are correct. Od. Neither statement is correct.

Under a Roth IRA, 1. any taxpayer may contribute and deduct up to $6,000 deductible contributions per year. I. the maximum annual contribution is phased out for unmarried taxpayers with adjusted gross income between $124,000 and $139,000. Oa. Only statement I is correct. Ob. Only statement II is correct. Oc. Both statements are correct. Od. Neither statement is correct.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 12MCQ

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