5. Joseph's employer had a Simplified Employee Pension (SEP) for its employees. Joseph's compensation before his SEP contribution was $32,000. What is the maximum amount that Joseph's employer can deduct as a contribution to an SEP-IRA on behalf of Joseph for 2020?

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6. Ben is single and 28 years of age. He earned a salary of $80,000 in 2020 as a computer tech by ICE Company. Ben was covered for the entire year 2020 under ICE's qualified pension plan for employees. In addition, Ben had a net income of $10,000 from self-employment. What is the maximum amount that Ben can deduct in 2020 for contributions to an IRA?

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7. Elaine divorced in 2018 and received taxable alimony of $35,000 in 2020. In addition, she received $2,500 in earnings from a part-time job. What is the maximum IRA contribution that Elaine could have made in 2020 in which she could have deducted on her tax return, assuming that she is 34 and everything was completed on a timely basis?

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8. Mick and Sally are 50 years of age and are married filing jointly. Their 2020 adjusted gross income is $110,000, which includes Micks salary of $126,500. Sally had no income. Neither spouse was covered by an employer-sponsored pension plan. What could they contribute to IRAs for 2020 in order to take advantage of their maximum allowable IRA deduction on their 2020 tax return?

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