Which is true of a traditional deductible IRA? Select multiple answers: a. Assume Brenda, Age 31, and

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Question:

Which is true of a traditional deductible IRA?

Select multiple answers:

a. Assume Brenda, Age 31, and Jim file married filing jointly and Brenda is an active participant in her employer's 401k plan. Brenda's salary is $50,000 and their MAGI is $114,000. The maximum Brenda can contribute to her IRA is $3000.

b. Brenda and Jim file married/jt. Brenda earns $50,000 salary and Jim earns $0. Brenda can contribute to an IRA, but Jim cannot.

c. If Brenda and Jim file married/joint and their MAGI is $250,000, neither Brenda nor Jim can contribute to any type of IRA

d. A taxpayer whose only income is $30,000 from salary and is married filing separately cannot contribute to a traditional IRA.

e. Brenda and Jim are married, both under age 50. Brenda's salary is $50,000 and Jim's salary is $80,000. Assume, neither participates in an employer plan. They can contribute $12,000 to one IRA.