43. Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI $56,000 in 2021. The maximum amount that Sammy can deduct for a contribution to a traditional IRA I. a. $2,800. b. $3,500. c. $5,000 d. $6,000. 44. Heather, age 48, is the sole remaining participant of a qualified pension plan. The plan is terminated and a $240,000 taxable distribution is made to Heather. The early distribution penalty tax, if any, for 2021 is: a. $0. b. $12,000. $24,000. d. $30,000 45. Emilio owns vacant land he is holding for investment. Two years ago he granted an option to purchase the land. The option grantee paid $25,000 for the option. This year the option expired unexercised. As a result, Emilio has: a. A $25,000 long-term capital gain. b. A $25,000 short-term capital gain. c. A $25,000 ordinary gain. d. No recognized gain or loss. PM