IRAs Assignment 1. Scott is a graduate student who works part-time and earned $15,000. He is not eligible to participate in his employer's retirement plan because he is a part-time worker. Is Scott eligible to make a tax-deductible contribution to traditional IRA? a) Circle one: Yes (go to part b) No (go to part c) b) Why? c) Why not? Is Scott eligible to make a contribution to Roth IRA? d) Circle one: Yes (go to part b) No (go to part ) e) Why? 1 Why not? 2. Following the above question, assume Scott and Allison are now married and file a joint tax return. Allison is a high school teacher who earned $50,000 and is an active participant in the school district's retirement plan. Is Allison eligible to make a tax-deductible contribution to traditional IRA? a) Circle one: Yes (go to part b) No (go to part c) b) Why? c) Why not? Is Allison eligible to make a contribution to Roth IRA? d) Circle one: Yes (go to part b) No (go to part c) e) Why? f) Why not