A divorced woman with 2 young children has just re-entered the workforce part time and earns $3,000 from this work. She collects another $2,400 per year in alimony payments. The woman wishes to make a contribution to an Individual Retirement Account this year. Which statement is TRUE

Which statement is TRUE

A. No contribution can be made because the woman received alimony payments

B. A contribution can be made based only on the income earned from part-time work

C. A contribution can be made based only on the alimony payments received

D. A contribution can be made based on both the earned income from part-time work and the alimony payments received

B. A contribution can be made based only on the income earned from part-time work

Explanation:

According to Individual Retirement Account regulations, contribution can only be made base on earned income and not a court-mandated allowance made to a former spouse by a divorced or legally separated person otherwise known as "Alimony". Alimony is just a means to support life and not a earned income. So, contribution can be made based only on the income earned from part-time work.

2,283,000

explanation:

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