Question: Which statement is true about IRA contribution limits?Group of answer choicesContributions to Traditional and Roth IRAs are treated the same for tax purposesThe combined total
Which statement is true about IRA contribution limits?Group of answer choicesContributions to Traditional and Roth IRAs are treated the same for tax purposesThe combined total max contribution to both a Traditional and Roth is $7,000($8,000 for age 50 and over) for 2025For a person age 30, the max contribution that can be made is $7,000 to a Traditional IRA plus $7,000 to a Roth IRA for 2025A contribution can be made to either a Roth or a Traditional for any one year, but not both
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