Multiple Choice
Sammy,age 31,is unmarried and is not an active participant in a qualified retirement plan.His modified AGI is $55,000 in 2016.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.
Correct Answer:
Verified
Correct Answer:
Verified
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