SIE Exam Question 801: Answer and Explanation

Question: 801

Which of the following are correct regarding Roth IRAs?

(1) Contributions to a Roth IRA can be made at any age.

(2) Contributions to a Roth IRA must be made before age 70 ?.

(3) A Roth IRA owner is not required to take a minimum distribution during his or her lifetime.

(4) Roth IRA contributions may be deducted in limited circumstances.

  • A. (1) and (3) only
  • B. (2) and (3) only
  • C. (1), (3), and (4) only
  • D. (2), (3), and (4) only

Correct Answer: A

Explanation:

Contributions to a Roth IRA can be made at any age and are never deductible. A Roth IRA owner is not required to take a minimum distribution during his or her lifetime.

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