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Can you answer the whole page please 1.Distributions from a traditional IRA must begin: a) In the year in which the owner attains age 70.5
Can you answer the whole page please 1.Distributions from a traditional IRA must begin: a) In the year in which the owner attains age 70.5 b) Any time in the year following the owner attaining age 70.5 n or before April 1t of the year following the year in which the owner attains age nt, whichever is later ) At the same time as (c) or the owner's actual date of retireme His 2. In 2018, Craig Foster is 42 years of age and a participant in the 401(k) at his company gross income from his employment is $117,000 and his AGI is $111,000. Craig's wife is 36 years of age and has not worked outside the home since the arrival of their first child. What is the maximum deduction the Fosters could take for contributions to an IRA? a) S 5,500 b) 6,600 c) 8,250 d) $11,000 3. What is the significance of an investment in life insurance for an IRA? a) May be recommended to generate high returns, but cannot represent more than 25% of the total account value b) c) Not recommended for an IRA owner over age 50, because the cash value of the policy d) Not recommended because an investment in life insurance may be considered a May be recommended to generate high returns, but cannot represent more than 50% of the total account value may not build to a sufficient level by the time of the owner's retirement prohibited transaction, resulting in a loss of IRA status for the account
Can you answer the whole page please
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