Question
During 2019, Marcia, who is single and is covered under a pension plan at work, contributes $6,000 into a Roth IRA. If her AGI is
During 2019, Marcia, who is single and is covered under a pension plan at work, contributes $6,000 into a Roth IRA. If her AGI is $21,000, which of the following is true?
| A. | She must withdraw all of the contribution immediately since she is covered under a plan at work. | |
| B. | None of the contribution is deductible. | |
| C. | Only 60% of the contribution is deductible since her AGI exceeds $64,000 by $4,000 and her maximum contribution is phased out by 40%. | |
| D. | All of the contribution is deductible. |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
