Click here to access Exhibit 19.3. Do not round intermediate computations. Calculate the amount Janet can contribute to a traditional IRA and the amount she can deduct. a. Janet can contributes 5,500 X to her traditional IRA, but she can deduct $ 4,400 X. Feedback Check My Work Employees not covered by another qualified plan can establish their own tax deductible Individual Retirement Accounts (IRAS). However, the amount of the contribution and the extent to which it is deductible may be limited b. Assume instead that Janet is a participant in a SIMPLE IRA and that she elects to contribute 4% of her compensation to the account and her employer contributes 3%. Janet will contribute $ 2,440 X to her SIMPLE IRA account. Her employer will contribute 1,830 x . The amount that will vest immediately is s 2,560 X Filing Status (AGI Phaseout Phaseout Begins * Phaseout Ends Single and head of household $ 65,000 $ 75,000 Married, filing joint return 104,000 124,000 Married, filing separate return -0- 10,000 Click here to access Exhibit 19.3. Do not round intermediate computations. Calculate the amount Janet can contribute to a traditional IRA and the amount she can deduct. a. Janet can contributes 5,500 X to her traditional IRA, but she can deduct $ 4,400 X. Feedback Check My Work Employees not covered by another qualified plan can establish their own tax deductible Individual Retirement Accounts (IRAS). However, the amount of the contribution and the extent to which it is deductible may be limited b. Assume instead that Janet is a participant in a SIMPLE IRA and that she elects to contribute 4% of her compensation to the account and her employer contributes 3%. Janet will contribute $ 2,440 X to her SIMPLE IRA account. Her employer will contribute 1,830 x . The amount that will vest immediately is s 2,560 X Filing Status (AGI Phaseout Phaseout Begins * Phaseout Ends Single and head of household $ 65,000 $ 75,000 Married, filing joint return 104,000 124,000 Married, filing separate return -0- 10,000