Which of the following statements are TRUE regarding Individual Retirement Accounts?

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Which of the following statements are TRUE regarding Individual Retirement Accounts?

I The earliest a taxpayer can make an annual contribution is January 1st of that tax year

II The latest a taxpayer can make an annual contribution is April 15th of the next tax year

III If the taxpayer obtained a 4 month filing extension, the annual contribution can be made until the extension date

IV Annual tax deductible contributions may be made even if the person is covered by another qualified retirement plan

A. I and II only

B. III and IV only

C. I, II, III

D. I, II, III, IV

Answer: A.

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