Which of the following is a requirement or limitation of a traditional IRA?

Question

Quizplus · Accepted Answer

All of the listed options are correct requirements or limitations for contributing to a traditional IRA. Earned income is necessary to make contributions, there was an age limit of 70½ years for contributions (though this limit was removed for tax years 2020 and later under the SECURE Act), and the contribution limits for 2018 were indeed $5,500 for those under 50 and $6,500 for those 50 and older.

Which of the Following Is a Requirement or Limitation of a Traditional