An individual, age 40, who is not subject to the phase-out provision may contribute a nondeductible amount to a Roth IRA up to $5,500 per year in 2017.

Name: An individual, age 40, who is not subject to the phase-out provision may contribute a nondeductible amount to a Roth IRA up to $5,500 per year in 2017.
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

This statement is true. The contribution limit for a Roth IRA for individuals under age 50 in 2017 is $5,500, and there is no phase-out provision for individuals at age 40.

An Individual, Age 40, Who Is Not Subject to the Phase-Out