June Tandy is covered under a SIMPLE IRA at Barker Jones Auction House, where she is employed. This year, no salary deductions or employer contributions were allocated to her SIMPLE IRA. If June makes a contribution to her personal IRA this year, her deduction limit will be based on those applying to a person who is not an active participant in a qualified retirement plan. True False

June Tandy is covered under a SIMPLE IRA at Barker Jones Auction House, where she is employed. This year, no salary deductions or employer contributions were allocated to her SIMPLE IRA. If June makes a contribution to her personal IRA this year, her deduction limit will be based on those applying to a person who is not an active participant in a qualified retirement plan.

True
False

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"