Question

Which of the following statements are true? 1. Individuals not covered under an employer plan may...

Which of the following statements are true?

1. Individuals not covered under an employer plan may be phased out from investing in an after-tax (nondeductible) IRA

2. Individuals covered under an employer plan may be phased out from investing in a traditional (deductible) IRA

3. Individuals that are not covered by employer plan can contribute to a Roth IRA regardless of income

4. Individuals that are not covered by an employer plan can contribute to a traditional IRA regardless of income
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Answer #1

4. Individuals that are not covered by an employer plan can contribute to a traditional IRA regardless of income.

Yes they can contribute.

( Individuals not covered under an employer plan may be phased out from investing in an after-tax (nondeductible) IRA they can contribute)

( Individuals covered under an employer plan may be phased out from investing in a traditional (deductible) IRA they can contribute)

(Individuals that are not covered by employer plan can contribute to a Roth IRA regardless of income they can contribute but there is income limit)

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