Which of the following statements concerning traditional IRAs and Roth IRAs is false?
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 72 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 choices are correct.

Question

Quizplus · Accepted Answer

The SECURE Act, passed in 2019, raised the age for required minimum distributions (RMDs) from traditional IRAs to 72 years old. However, there is no age limit for contributing to a traditional IRA. A taxpayer may contribute to a traditional IRA as long as they have earned income, regardless of their age.

Which of the Following Statements Concerning Traditional IRAs and Roth