Question 46 of 75. The maximum amount a 74-year-old taxpayer with $10,000 in wages can contribute to a traditional IRA for 2020 is: $0 $6.000 $7,000 O $10.000 Mark for follow up Question 47 of 75. Zach, who is 58 years old and single, earned $10,750 in wages in 2020. The maximum amount he can contribute to a traditional IRA for 2020 is: $0 $6,000 $7.000 $10.750 Mark for follow up Question 48 of 75. Choose the response that completes the following sentence. A cash distribution from a qualified retirement account in which the taxpayer ONLY made pre-tax contributions: O is always fully taxable. O is never taxable. O is only taxable at the state and local level. O May be partially taxable. Mark for follow up Question 49 of 75. All of the following statements are true for Tax Year 2020, in regard to contributing to a traditional or a Roth IRA, EXCEPT: There is no age limit on making regular contributions. O Ages 70% or older cannot make regular contributions to a traditional IRA. Ages 70% or older can make regular contributions to a Roth IRA. Taxpayers that file a joint return may be able to contribute to an IRA if their spouse had taxable compensation, even if they did not. Mark for follow up Question 50 of 75. Required minimum distributions (RMD) from retirement accounts under the CARES Act allow all of the following EXCEPT: Taxpayers with an RMD due in 2020 to skip their RMD from defined-benefit plans. O Any taxpayer with an RMD due in 2020 to skip their RMDs this year, from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA. O Anyone who turned age 70% in 2019 and is required to take their first RMD by April 1, 2020 can spend their RMD for 2019 in 2020. O An IRA owner or beneficiary who has already taken a distribution from an IRA an amount that would have been an RMD in 2020 can repay the distribution to the IRA by August 31, 2020. Mark for follow up Question 51 of 75. __ A taxpayer who takes a distribution from a traditional IRA in which they previously made nondo