12. Ted, age 41, files single. He earned 52,875 in wages and had no other income in 2015. Ib April 14,2016 he filed for an automatic six-month extension to file his tax return. Three weeks later, on MAY 5, he timely filed his 2015 tax return. Which tax statement best describes his eligibility to contribute to an IRA on May 5?

a. Because he did not make the contribution before the due date for the tax return, he is not eligible to make an IRA contribution for 2015

b. Because he did not file his tax return by the due date, he in only eligible to contribute to a Roth IRA for 2015

c. Because he did not file his tax return before the due date but did file it before the extension due date, he is eligible to make half the maximum IRA contribution for 2015

d. He is eligible to make the maximum IRA contribution because he filed his 2015 tax return before the extension due date.

17. Which of the following distributions is eligible for rollover treatment?

a. The required minimum distribution from a 73-year-old taxpayers former employers qualified plan. The taxpayer continues to work and is an active participant in his current employers qualified plan.

b. A hardship distribution. By the time the distribution was received, the taxpayer no linger faced the hardship

c. A distribution of excess deferrals made to a taxpayer because they were a highly- compensated employee who unknowingly paid too much into their employers qualified plan.

d. A 55-year-old- surviving spouses distribution form the 60-year-old decedents qualified plan. The decedent was employed at the time of death.

18. Lucy takes an early distribution of 12,000 from her IRA and used the funds to help her purchase her first home. How, if any, of the 12,000 is subject to the early withdrawal penalty?

a. 0

b. 2,000

c. 10,000

d. 12,000