The Tax-Sheltered Annuity (TSA) contributions are not deductible from taxable income but are made on a pre-tax basis, while income from a TSA is received tax-free, and interest earnings are tax-deferred.
In the context of a Tax-Sheltered Annuity (TSA), the incorrect statement is that the contributions are deductible from taxable income. TSA contributions are not deductible from taxable income but are made on a pre-tax basis. The remaining statements are accurate:
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