In which of the following plans is this statement true: A deduction is allowed for contributions to the plan, and no income tax consequences result from distributions to the participant at retirement.
A) Roth IRAs.
B) Traditional IRAs.
C) Keogh (H.R. 10) plans.
D) Both b. and c., but not a.
E) None of the above.

Question

Quizplus · Accepted Answer

Distributions from both Traditional IRAs and Keogh plans are generally taxable, so there are income tax consequences at retirement.

In Which of the Following Plans Is This Statement True