SIE Exam Practice Question 281
Question: 281
What is the tax status of Keogh plans?
Correct Answer: D
Explanation:
D: HR-10 plans, also known as Keogh (pronounced key-o) plans, are retirement accounts created for smaller professional practices (like a dentist's office or law firm). Contributions to these plans are tax deductible, while distributions are fully taxable.
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