1. Thomas is a self-employed plumber under the age of 50. His earnings from self- employment, before the Keogh deduction but after deducting half of the self-employment tax, are $80,000. What is his deductible Keogh contribution for 2015?

a. $53,000.

b. $20,000.

c. $18,000.

d. $16,000.

2. Terri is single and age 32. She reported AGI of $63,000 in tax year 2015. She is an active participant in her employer's pension plan. What is the maximum deductible IRA contribution she can make in 2015?

a. $0.

b. $1,100.

c. $4,400.

d. $5,500.

3. Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer pension plan. Ed earned compensation of $53,000 in 2015. Cathy worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2015?

a. $0.

b. $5,500.

c. $6,700.

d. $11,000.

4. Vickie is single and age 53. She reported AGI of $67,000 in 2015. She is an active participant in her employer's pension plan. What is the maximum deductible IRA contribution she can make in 2015?

a. $2,200

b. $2,600

c. $3,900

d. $6,500

5. Patrice is single and age 26. She reported AGI of $65,000 in tax year 2015. She is an active participant in her employer's pension plan. What is the maximum deductible Roth IRA contribution she can make in 2015?

a. $0.

b. $2,200.

c. $3,300.

d. $5,500.

6. Jack is single and age 43. He reported AGI of $124,000 in tax year 2015. He is an active participant in his employer's pension plan. What is the maximum Roth IRA contribution he can make in 2015?

a. $0.

b. $2,567.

c. $2,933.

d. $5,500.

7. Without regard to AGI limitations, what is the maximum contribution permitted to a Coverdell Education Savings Account in 2015?

a. $500

b. $2,000

c. $5,500

d. The lower of $5,500 or 100% of compensation

8. Vanessa and Martin file a joint return for 2015. They have one child age 12. They have combined AGI of $202,000 in 2015. What is their maximum permitted contribution to a Coverdell Education Savings Account for 2015?

a. $0.

b. $800.

c. $1,200.

d. $2,000.

9. Juan is single and retired on January 1, 2015 at age 62. He is entitled to receive monthly payments of $1,500 over his life from his employer's qualified pension plan. The payments began January 1, 2015. He contributed $71,500 to the plan prior to his retirement. Using the simplified method, how much of the payments will be included in his income for 2015?

a. $0.

b. $3,300.

c. $14,700.

d. $18,000.

10. Mark, who is single, must start making distributions from his pension plan beginning April 1, 2015. At the end of 2014 when Mark was 71 years old, the plan had a balance of $220,000. He will use a single life expectancy. What amount must Mark take as a distribution from the pension plan no later than April 1, 2015?

a. $8,302.

b. $12,941.

c. $13,497.

d. $14,193.

11. Matt, age 62, retired in 2015. During the year, he received distributions of $9,000 from his IRA. He made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2015, the value of his IRA was $150,000. Calculate the taxable portion of Matt's distribution.

a. $1,132

b. $7,800.

c. $7,868.

d. $9,000.

12. Withdrawals from a Roth IRA are:

a. Subject to the required minimum distribution rules.

b. Taxable if made after the five-tax-year period beginning with the first tax year in which a Roth contribution was made.

c. Deemed to come first from contributions and then from earnings.

d. Not taxable to the extent they exceed contributions, if the five-year holding period requirement is not met.

13. Sanjay purchased a single life annuity contract for $200,000. The contract will pay $15,000 per year beginning in 2015 for the remainder of his life and has an expected return of $330,000. What amount of taxable income must Sanjay report in 2015?

a. $5,909.

b. $9,091.

c. $15,000.

d. $130,000.