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26. Evan is considering a Roth IRA as his primary retirement plan. Which of the following is a condition under which a taxpayer may set up and make

26. Evan is considering a Roth IRA as his primary retirement plan. Which of the following is a condition under which a taxpayer may set up and make contributions to a Roth IRA?


a) The taxpayer had earned taxable income during the year and has not reached 70½ by the end of the year.

b) His only source of earnings was from a pension and he was under the age of 70½ by the end of the year.

c) The taxpayer had earned taxable income during the year and has not reached 59½ by the end of the year.

d) The taxpayer had earned taxable income during the year and his income was below a specified limit.


27. The Jenkins, a married couple who file as Married Filing Jointly, have set up a Roth IRA. If limits apply, then what is the limit of their modified AGI in order for the Jenkins to be able to contribute to a Roth IRA?


a) Limits do not apply

b) Less than $194,000

c) Less than $132,000

d) Less than $117,00

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