American adults appear to be confused — very confused — by the U.S. tax code.
The average U.S. adult scored just 51% on 10 multiple-choice personal finance questions about federal income tax returns as they relate to retirement, college savings and health care, based on a survey of 1,000 adults given by personal finance site NerdWallet. That is a fail by academic standards. Most respondents, for instance, didn't know the tax implications of popular financial products such as Roth individual retirement accounts, flexible spending accounts and 529 education plans.
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