contestada

Which of the following statements about traditional IRAs is TRUE?
Taxable invelliment income, such as interest, dividends, and capital gains, will qualify as compensation for the purpose of contributing to an IRA.
Taxpayers may be able to reduce their tax liability by contributing to an IRA after the tax year has ended.
Taxpayers with a timely filed extension have until October 15 of the tax year to establish and contribute to an IRA.
Taxpayers who participate in an employer-sponsored retirement plan are prohibited from contributing to an IRA.
Mark for follow up

Respuesta :

Samawati

Answer:

Taxable investment income, such as interest, dividends, and capital gains, will qualify as compensation for the purpose of contributing to an IRA.

Explanation:

A traditional individual retirement account (IRA) is an investment account that offers tax-advantaged retirement savings. This means that contributions to a traditional IRA  are not taxed at the moment of contribution but rather at the time of withdrawing. An IRA is held in the individual person's name and may exist in place of an employer-sponsored retirement account.

Interest or capital gains from the investments activities are considered as income in IRA accounts. Any taxes due is deferred to the time of withdrawal, just like all other contributions.

Otras preguntas