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During 2 0 2 4 , Jacob, a 1 9 - year - old full - time student, earned $ 4 , 5 0 0

During 2024, Jacob, a 19-year-old full-time student, earned $4,500 during the year and was
not eligible to participate in an employer-sponsored retirement plan. The general limit for
deductible contributions to an IRA during 2024 is $7,000. How much of a tax-deductible
contribution can Jacob make to an IRA?
Select one:
A. $2,500
B. $4,500
C. $0(Full-time students are not allowed to participate in IRAs).
D. $7,000
lear my choice
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