placeholder image to represent content

Chapter 6 Classwork

Quiz by Road Manager

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
11 questions
Show answers
  • Q1

    Rosa (age 32) changed jobs and received a Form 1099-R from her former employer with a gross distribution of $1,200. Rosa opened an IRA and deposited the entire $1,200 sixty-one days after receiving the check. Which of the following statements is true?

    The $1,200 distribution is excludable from income

    The $1,200 distribution is includable as income

    The $1,200 distribution is eligible to be taxed at a special rate

    Part of the $1,200 distribution is excludable from income

    300s
  • Q2

    Ben inherited his mother's IRA when she passed away. What options does he have for how to handle this IRA?

    Ben can contribute to this account

    Ben can rollover money from his IRA into this IRA

    Ben can rollover the money into his own IRA

    None of these

    300s
  • Q3

    A taxpayer age 43 may contribute to an IRA up to:

    $5,500

    None of these

    $6,500

    $6,000

    300s
  • Q4

    Taxable compensation for a traditional IRA includes:

    Capital Gains

    Interest & Dividends

    Salaries & Wages

    All of these

    300s
  • Q5

    Additional taxes/penalties due to early withdrawal from retirement accounts are reported on:

    Line 19, Schedule 1

    Line 17, Schedule 1

    Line 8, Schedule 2

    Line 17, Form 1040

    300s
  • Q6

    SSI is sometimes taxable income

    false
    true
    True or False
    300s
  • Q7

    You can contribute to a Roth IRA at any age, but not at any income level. 

    true
    false
    True or False
    300s
  • Q8

    Pension or annuity distributions would have a tax-free portion if you made any after-tax contributions to the plan

    true
    false
    True or False
    300s
  • Q9

    A rollover and conversion are the same things

    false
    true
    True or False
    300s
  • Q10

    The only limitation to IRA contributions is $6,000 per taxpayer ($7,000 if age 50 or older). 

    false
    true
    True or False
    300s
  • Q11

    The IRA deduction is claimed in the adjustment section on line 20, Schedule 1.

    true
    false
    True or False
    300s

Teachers give this quiz to your class