Are you having trouble answering the question “An unmarried person, earning $100,000 a year, is not covered by a pension plan and has been contributing to an IRA account annually. If this individual joins a corporation at the same salary, and is included in that company’s pension plan, which statement is TRUE?”? You don’t have to worry about it anymore. Azanswer team is here with the correct answer to your question.
An unmarried person, earning $100,000 a year, is not covered by a pension plan and has been contributing to an IRA account annually. If this individual joins a corporation at the same salary, and is included in that company’s pension plan, which statement is TRUE?
A. Annual contributions to the IRA can continue but will not be tax deductible
B. Annual contributions to the IRA can continue and continue to be tax deductible
C. Annual contributions to the IRA must cease
D. The IRA must be closed and the balance transferred to the pension plan
Answer: A.
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