1. John (age 51) has earned income of $3,000. He has $30,000 of unearned income (capital gains). If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution he can make in 2019?

2. William, single, age 35 has 2019 AGI of $66,000 (all earned income). He does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2019?

3. Kathleen, age 56, retires from MH Company where she participated in the companys 401K plan. She would like to take $10,000 out to pay for her upcoming vacation. How much of the $10,000 will she be able to keep after paying any taxes or penalties? Kathleens marginal tax rate is 24%.