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Which of the following statements regarding IRA (Individual Retirenment Account) is true? O 1.All taxpayers with high income are not allowed to contribute to traditional

Which of the following statements regarding IRA (Individual Retirenment Account) is true?

O 1.All taxpayers with high income are not allowed to contribute to traditional IRAs.

O2. Contributions to Roth IRAs are not deductible

O3. Regarding Roth IRA, taxpayers are required to start taking required minimum distributions when the taxpayer reaches age 72

O4, If marginal tax rate is expected to increase over time, traditional IRA is beneficial

O5.All of the above are false.

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