Harriett is age 52,married,and reported AGI of $102,000 in tax year 2016.She is an active participant in her employer's pension plan.What is the maximum deductible IRA contribution she can make for her own account in 2016?

Question

Quizplus · Accepted Answer

Harriett is over age 50, so she can make a catch-up contribution of $1,000. The maximum deductible IRA contribution for someone over age 50 in 2016 is $6,500, so Harriett can contribute $6,500 to her IRA.

Harriett Is Age 52,married,and Reported AGI of $102,000 in Tax