"For the past 5 years, an individual earning $40,000 per year, who was not covered by another retirement plan, has made annual contributions to an Individual Retirement Account. That individual has changed jobs at the same salary and has been included in that company's qualified retirement plan. Which statement is TRUE?"

The available options are:

A. Annual contributions to the Individual Retirement Account must cease

B. Annual contributions to the Individual Retirement Account can continue and are an adjustment to income each year

C. Annual contributions to the Individual Retirement Account can continue but no adjustment to income is allowed

D. The employee has 60 days to roll over the funds from the IRA to the qualified plan in order to maintain tax deferred status

Annual contributions to the Individual Retirement Account can continue and are an adjustment to income each year

Explanation:

Given that, the individual involved makes $40,000 per year, therefore, the IRA contribution is tax deductible. This is because, the phase out range in 2020 for singles, where the contribution is not tax deductible is an income of above $75,000 per year, which is exactly between $65,000 - $75,000.

Hence, in this case, the correct answer is option B. Annual contributions to the Individual Retirement Account can continue and are an adjustment to income each year

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

lives by a moral and ethical code