Which of the following persons can establish a traditional IRA?
I.Persons whose only income received is from investments.
II.Employed persons under age 70.5 who are not active participants in an employer-sponsored retirement plan.

Question

Quizplus · Accepted Answer

Only employed persons under age 70.5 who are not active participants in an employer-sponsored retirement plan can establish a traditional IRA. Persons whose only income received is from investments cannot establish a traditional IRA.

Which of the Following Persons Can Establish a Traditional IRA