1. Karne, 28 years old and a single taxpayer, has a salary of $30,000 and rental income of $33,000 for the 2015 calendar tax year. Karen is covered by a pension through her employer.

a. what is the maximum amount that Karen may deduct for contributions to her traditional IRA for 2015?

b. If Karen is a calendr year taxpayer and files her tax return on August 15, what is the last date on which she can make her contribution to the IRA and deduct it for 2015?

2. During 2015, Jill, Age 39, participated in a Section 401 K plan which provides for maximum employee contributions of 6%. Jill's salary was $104,800 for the year. Jill elects to make the maximum contribution.

a. what is jill's maximum tax-deferred contribution to the plan for the year?