Maurice is age 44, single, and reported AGI of $69,000 in tax year 2015. He is an active participant in his employer's pension plan. What is the maximum deductible IRA contribution he can make in 2015?

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Quizplus · Accepted Answer

For 2015, the IRA deduction limit for single filers who are active participants in an employer's plan begins to phase out at an AGI of $61,000 and is completely phased out at $71,000. Maurice's AGI of $69,000 falls within the phase-out range, allowing a partial deduction.

Maurice Is Age 44, Single, and Reported AGI of $69,000