Which of the following statements are true about a traditional IRA?

I. Subject to an income limit, in 2019 a single person could contribute up to $6,000 per year ($7,000 if over 50 years old) of pretax income to an IRA.

II. All withdrawals are tax-free.

III. Earnings on the IRA account are not taxed until withdrawn.

IV. You must begin withdrawals at age 59.

V. Withdrawal(s) can be a lump sum or installments.

Multiple Choice

a. I, II, IV

b. II, IV, and V

c. I, II, IV, and V

d. I, III, and V

e. III, IV, and V