In 2016, Madison is a single taxpayer who is 25 years of age. During 2016, she contributed $3,000 to her employer sponsored 401(k) account. Her 2016 AGI was $65,500 (before considering IRA deductions). What is the maximum deductible contribution, if any, that Madison can make her to IRA?

Question

Quizplus · Accepted Answer

The Answer of In 2016, Madison is a single taxpayer who is 25 years of age. During 2016, she contributed $3,000 to her employer sponsored 401(k) account. Her 2016 AGI was $65,500 (before considering IRA deductions). What is the maximum deductible contribution, if any, that Madison can make her to IRA?

In 2016, Madison Is a Single Taxpayer Who Is 25