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 2012.The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:
A) $2,800.
B) $3,500.
C) $4,000.
D) $5,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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