Which of the following individuals is NOT eligible to contribute up to the maximum allowable limit to a traditional individual retirement account?
A) Shirley, age 21, who is single, earns below the allowable modified adjusted gross income limit, and is not covered under an employer-sponsored retirement plan
B) Joe, age 71, who is married, has an earned income, and is not covered under an employer-sponsored retirement plan
C) Karen, age 61, who is single, earns below the allowable modified adjusted gross income limit, and is covered under an employer-sponsored profit-sharing plan
D) Craig, age 51, who is married, is covered under an employer-sponsored 401(k) plan, and earns below the allowable modified adjusted gross income limit
Ans: B) Joe, age 71, who is married, has an earned income, and is not covered under an employer-sponsored retirement plan
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