Mr.Paul,age 73 and single,earned a $150,000 salary (AGI) as a university professor.He no longer participates in the university's qualified retirement plan.Which of the following is true?
A) Mr.Paul can make a $7,000 deductible contribution to a traditional IRA.
B) Mr.Paul can make a $7,000 nondeductible contribution to a traditional IRA.
C) Mr.Paul can make a $7,000 nondeductible contribution to a Roth IRA.
D) Mr.Paul can't make an IRA contribution.
Correct Answer:
Verified
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