FUNDAMENTALS
IRAs
Five Strange Facts About IRAs
Take this short quiz to learn five facts about Individual Retirement Accounts. 1 John was 55, working and in good health. Each February, John would make a contribution for the previous year to his Roth IRA. However, tragedy struck. John was killed in an auto accident in late January. His heirs, knowing John had worked the previous year would have been eligible to make the contribution and intended to make the contribution, went ahead and made the annual contribution to his account with funds from John’s bank account.
SEE YOU HOW SCORE ON THIS IRA QUIZ
by Dennis Blitz
QUESTION Was the contributionAllowed or Declined?
28 | think realty magazine :: april 2021
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