The maximum amount that can be contributed to an IRA is:

Name: The maximum amount that can be contributed to an IRA is:
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Question

Quizplus · Accepted Answer

The maximum amount that can be contributed to an IRA is $3,000, but it increases to $5,000 in 2008. Therefore, option C is the correct answer. Option A is incorrect because 2% of the salary or $3,000 is not always the maximum limit. Option B is incorrect because it only applies to specific years. Option D is also incorrect because the increase only applies until 2010.

The Maximum Amount That Can Be Contributed to an IRA