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Chapter 9 - Question 2 : Please, give me the explain on these plan. Thank you...

Chapter 9 - Question 2 :

Please, give me the explain on these plan. Thank you

Participation in which of the following plans will not be considered active participation for purposes of IRA deductibility?

A.            Tax sheltered annuity.

B.            Simplified employee pension.

C.            SIMPLE.

D.            457 plan.

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Answer #1

Answer D) 457 Plans

Reason: An individual is considered as active participant if he or he participates in either a tax sheltered annuity, Simplified employee pension (SEP) or a Simple IRA, but not a 457 plan. A 457 plan is not considered active participation.

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