1-

Since a contribution to an IRA is a voluntary action, a taxpayer may withdraw amounts from an IRA at any time without penalty.

True

False

2-

Contributions by a self-employed individual to a SEP plan for 2016 are limited to the lesser of a percent of net earned income or:

a.$50,000

b.$51,000

c.$52,000

d.$53,000

e.None of these choices are correct.

3-

Which of the following is not a test which must be met to qualify for the moving expense deduction?

a.The distance from the taxpayer's former residence to the new job must be at least 50 miles more than the former residence to the former job.

b.The taxpayer must stay with the same employer.

c.The taxpayer must remain at the new job location for 39 weeks during the 12 months following the move (78 weeks out of 24 months if self-employed).

d.The taxpayer must change job sites.

e.All of these choices are tests for the moving expense deduction.