28. Under a Roth IRA,

I.	any taxpayer may contribute and deduct up to $6,000 deductible contributions per year.
II.	the maximum annual contribution is phased out for unmarried taxpayers with adjusted gross income between $124,000 and $139,000.

a.Only statement II is correct.

b.Only statement I is correct.

c.Both statements are correct.

d.Neither statement is correct.

29.Under a qualified pension plan,

I.	the yearly earnings on the pension plan assets are taxable income to the employee.
II.	an employer's contribution is not taxable income to the employee at the time of the contribution.

a.Only statement II is correct.

b.Only statement I is correct.

c.Both statements are correct.

d.Neither statement is correct.

31. Marilyn sells 200 shares of General Motors stock for $80 per share. She pays a $100 commission on the sale and has an adjusted basis of $8,000 on the stock.

I.	The amount realized from the sale is $15,900.
II.	Marilyn has a recognized gain of $8,000.

a.Only statement II is correct.

b.Only statement I is correct.

c.Both statements are correct.

d.None of these statements are correct.