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Kelly, a 39 Year Old Earning $200,000 Per Year Working

Question 33

Multiple Choice

Kelly, a 39 year old earning $200,000 per year working for a pension consulting firm, would like to contribute the maximum tax deductible amount to her IRA. She is married to Tim, who is completely disabled and has not earned any income this year. Assuming that she is not participating in an employer sponsored plan (although her employer offers a contributory pension plan) , Kelly should contribute


A) $0, because she earns more than $50,000,
B) $0, because her employer offers a qualified retirement plan,
C) $3,000,
D) $6,000.

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