Following Statements Concerning Deductible Ira Contributions Age 50 Correct Single Wage Ea Q34186604

1. Which of the following statements concerning deductible IRAcontributions for those under age 50 is correct?
   1. a single wage earner is limitied to the lesser of $6500 or 100%of his or her compensation.
   2. A married couple with both spouses working may each contributethe maximum permitted a single wage earner.
   3. A married couple with only one spouse working may contribute amaximum $5500.
   4. A divorced person whose only taxable income is alimony cannotmake a deductible IRA contribution.
   5. Any nondeductible amount contributed may be withdrawn withoutdisturbing the deductible contributions
2. peter molloy is considering making a contribution to an IRA,but his employer has a profit-sharing plan. Plan benefits vest over6
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