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8. Paul and Mary, both age 45, files taxes as married filing jointly, and have a MAGI of $130,000 for 2020. Mary participates in a 401(k) plan at work. Paul does not. Which of the following are true? I. II. III. IV. V. A. I, II, V B. II, IV C. I, IV D. III, V. Both Paul and Mary can do Roth IRAS. Only Paul can do a Roth IRA. Only Mary can do a Roth IRA. Only Paul can do a deductible IRA. Both Paul and Mary can do deductible IRAS.

8. Paul and Mary, both age 45, files taxes as married filing jointly, and have a MAGI of $130,000 for 2020. Mary participates in a 401(k) plan at work. Paul does not. Which of the following are true? I. II. III. IV. V. A. I, II, V B. II, IV C. I, IV D. III, V. Both Paul and Mary can do Roth IRAS. Only Paul can do a Roth IRA. Only Mary can do a Roth IRA. Only Paul can do a deductible IRA. Both Paul and Mary can do deductible IRAS.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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8. Paul and Mary, both age 45, files taxes as married filing jointly, and have a MAGI of $130,000 for 2020. Mary participates in a 401(k) plan at work. Paul does not. Which of the following are true? I. II. III. IV. V. A. I, II, V B. II, IV C. I, IV D. III, V. Both Paul and Mary can do Roth IRAS. Only Paul can do a Roth IRA. Only Mary can do a Roth IRA. Only Paul can do a deductible IRA. Both Paul and Mary can do deductible IRAS.
Transcribed Image Text:8. Paul and Mary, both age 45, files taxes as married filing jointly, and have a MAGI of $130,000 for 2020. Mary participates in a 401(k) plan at work. Paul does not. Which of the following are true? I. II. III. IV. V. A. I, II, V B. II, IV C. I, IV D. III, V. Both Paul and Mary can do Roth IRAS. Only Paul can do a Roth IRA. Only Mary can do a Roth IRA. Only Paul can do a deductible IRA. Both Paul and Mary can do deductible IRAS.
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