Multiple Choice
During 2013 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 2013 is $5,500.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) $5,500
Correct Answer:
Verified
Correct Answer:
Verified
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