22. Which of the following statements with respect to a Keogh Plan is not accurate?

a. Self-employed individuals are eligible to be members of a Keogh Retirement Plan.

b. Contributions to Keogh Plans are limited to 15 percent of the taxpayer’s earned income or $49,000, whichever is greater.

c. In some cases, ‘‘earned income’’ includes profits from the taxpayer’s business.

d. Taxpayers must begin receiving distributions from a Keogh plan by the age of 701/2.

e. All of the above statements are accurate.

LO 3.6