Under a Roth IRA
I.Any taxpayer may contribute and deduct up to $5,500 deductible contributions per year.
II.The maximum contribution is phased-out for unmarried taxpayers with adjusted gross income between $117,000 and $132,000.

A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Question

Under a Roth IRA
I.Any taxpayer may contribute and deduct up to $5,500 deductible contributions per year.
II.The maximum contribution is phased-out for unmarried taxpayers with adjusted gross income between $117,000 and $132,000.
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A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Quizplus · Accepted Answer

Under a Roth IRA, contributions are not deductible. The phase-out range for unmarried taxpayers is correct.