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| Which one of the following statements concerning traditional IRAs for individuals under the age of 50 is not correct for 2013? A. A taxpayer whose AGI is not above the applicable phaseout range can make a $500 deductible contribution regardless of the proportional phaseout rule. B. Total IRA contributions are subject to the $5,000 or 100% of compensation limit. C. If neither the taxpayer nor the taxpayer’s spouse is an active participant in an employer-sponsored retirement plan or a Keogh plan, there is no phaseout of IRA deductions. D. A taxpayer who is partially or totally prevented from making deductible IRA contributions can make nondeductible IRA contributions. |