Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2017. The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:
A)$2,800.
B)$3,500.
C)$5,000.
D)$5,500.
E)None of the above.

Question

Quizplus · Accepted Answer

Based on the provided information, Sammy can deduct the full amount of his contribution to a traditional IRA up to the maximum allowed limit for 2017, which is $5,500.

Sammy, Age 31, Is Unmarried and Is Not an Active