Question
For 2019, Chanda is 36, single, and an active participant in a qualified employee pension plan. Determine the maximum Roth IRA contribution that she can
For 2019, Chanda is 36, single, and an active participant in a qualified employee pension plan. Determine the maximum Roth IRA contribution that she can make in each of the following cases:
a. Assume that she did not make any contributions to other IRA accounts during the year. When her adjusted gross income for the year is $66,000, Chanda is allowed to contribute $_6,000_ to her Roth IRA.
b. When her adjusted gross income for the year is $125,000, Chanda is allowed to contribute $______ to her Roth IRA.
c. When her adjusted gross income for the year is $139,000, Chanda is allowed to contribute $_0_ to her Roth IRA.
d. When her adjusted gross income for the year is $65,000, and she makes a $3,500 contribution to a deductible IRA account, Chanda is allowed to contribute $_2,500_ to her Roth IRA.
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