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5 February, 11:37

Jeremiah Brown has been making contributions into an individual retirement account for his retirement. His contributions are not tax deductible but his earnings accumulate tax free. What type of individual retirement account does he have?

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  1. 5 February, 15:05
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    Th answer is: Roth IRA account

    Explanation:

    A Roth IRA is an individual retirement plan where you are contributing after-tax dollars. That means you get no tax deduction for your contributions but th money it earns is tax-free. Once you start to withdraw your funds, you pay no taxes for them if your are at least 59 and a half years old.
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Home » Business » Jeremiah Brown has been making contributions into an individual retirement account for his retirement. His contributions are not tax deductible but his earnings accumulate tax free. What type of individual retirement account does he have?
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