Which of the following statements regarding Keogh accounts is true?
A) The annual limitation on contributions to Keogh accounts is lower than the annual limitation on IRAs.
B) One must have net self-employment income to contribute to a Keogh account.
C) Earnings on Keogh investments are taxed deferred, but contributions are not tax-deductible.
D) One can contribute to either an IRA or a Keogh, but not both in the same year.
Correct Answer:
Verified
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