A 42-year-old single taxpayer earning a salary of $132,000 a year can make which of the following IRA contributions if he is not covered by a plan at work?
A) $5,500 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
B) $4,500 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
C) $5,500 to a Roth IRA only
D) $5,500 to either a traditional IRA or a nondeductible IRA, but no contribution is allowed to a Roth IRA
Correct Answer:
Verified
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