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During 2019, Jacob, a 19-Year-Old Full-Time Student, Earned $4,500 During

Question 105

Multiple Choice

During 2019, Jacob, a 19-year-old full-time student, earned $4,500 during the year and was not eligible to participate in an employer-sponsored retirement plan.The general limit for deductible contributions during 2019 is $6,000.How much of a tax-deductible contribution can Jacob make to an IRA?


A) $0 (Full-time students are not allowed to participate in IRAs)
B) $500
C) $4,500
D) $6,000

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