Match the limitation on contributions to the retirement plans for 2011 with the retirement plan. Limitations may be used more than once. Assume all taxpayers are under age 50, unless stated otherwise.
-IRA (taxpayer over age 50)
A) No limit
B) $5,005
C) $6,005
D) $16,505
E) $49,000
F) $195,005

Question

Quizplus · Accepted Answer

For taxpayers over age 50, the IRA contribution limit in 2011 was $6,000 plus a catch-up contribution of $1,000, totaling $6,005.

Match the Limitation on Contributions to the Retirement Plans for 2011