Which of the following persons can establish a traditional IRA? I. A person whose only income received is from investments. II. A 75 year-old man who has earned taxable income.
A) I only
B) II only
C) both I and II
D) neither I nor II
Question 2
Donna, age 50, is single and earns 40,000 annually. She is covered under her employer's retirement plan. Donna would like to start a traditional IRA and contribute 4,000 this year.
Which of the following describes her ability to establish a traditional IRA and the tax treatment of her contribution?
A) Her contribution is fully tax deductible.
B) Her contribution is partially tax deductible.
C) No portion of the contribution is tax deductible.
D) Donna is not eligible to establish a traditional IRA, so no contribution can be made.
Relative Energy Consumption per Person for Selected Countries
Income Distribution in the United States, 2009
Income per Capita versus Income of the Bottom Quintile
Solow Model with Saving Dependent on Income Level
Percentage of higher-income Canadian households