Tyne is a 48-year-old an unmarried taxpayer who is not an active participant in an employer-sponsored qualified retirement plan.Before IRA contributions,her AGI is $64,000 in 2016.What is the maximum amount she may contribute to a tax deductible IRA?
A)$ 0
B)$4,400
C)$5,500
D)$6,500

Question

Quizplus · Accepted Answer

As a taxpayer who is not an active participant in an employer-sponsored retirement plan and is under the age of 50, Tyne may contribute up to $5,500 to a tax-deductible IRA in 2016.

Tyne Is a 48-Year-Old an Unmarried Taxpayer Who Is Not