4. During the current year, Damian Davis received a salary of $15,000 and interest income of $1,000 and contributed $1,500 to his IRA. What amount of the IRA contribution can be deducted in arriving at Damian's adjusted gross income for 2018? For 2019? 1 5. Waldo Walters' employer has a Simplified Employee Pension (SEP) for its employees. Waldo's compensation before his employer's SEP contribution was $3,000. What is the maximum amount that Waldo's employer can deduct as a contribution to an SEP-IRA on behalf of Waldo for 2018? 6. Mason Michaels is self-employed. During the current year, he established a qualified defined contribution retirement plan of which he will be the only beneficiary. Mason's records disclose the following: 31,521