A 42-year-old single taxpayer earning a salary of $138,000 a year can make which of the following IRA contributions if he is not covered by a plan at work?
A)$6,000 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
B)$7,000 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
C)$6,000 to a Roth IRA only
D)$6,000 to either a traditional IRA or a nondeductible IRA, but no contribution is allowed to a Roth IRA

Question

Quizplus · Accepted Answer

The Answer of A 42-year-old single taxpayer earning a salary of $138,000 a year can make which of the following IRA contributions if he is not covered by a plan at work?
A)$6,000 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
B)$7,000 to either a traditional IRA, a Roth IRA, or a nondeductible IRA
C)$6,000 to a Roth IRA only
D)$6,000 to either a traditional IRA or a nondeductible IRA, but no contribution is allowed to a Roth IRA

A 42-Year-Old Single Taxpayer Earning a Salary of $138,000 a Year