Question

Which statements are true regarding an individual retirement account? Check all that apply. Employers create them and match employee contributions. People can contribute to the account until retirement age. People can withdraw money penalty-free at any time. Contributions to the account are limited each year. Contributions can be deducted from federal taxes.

Answer 1

It would be - People can contribute to the account until retirement age.
Contributions to the account are limited each year.
Contributions can be deducted from federal taxes

Hope it helps.

Answer 2

The correct answer is B, D, E.

B. People can contribute to the account until retirement age.

D. Contribution to the account are limited each year.

E. ContRibution can be deducted from federal taxes.

Individual retirement helps a person to save for retirement benefits which may offer advantages on taxes.

Individual retirement allows a person to deductible contribution for annual tax to the fund of the retirement.