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Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,680 employer contribution to a qualified profi sharing plan account,
Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,680 employer contribution to a qualified profi sharing plan account, and a contribution by Ms. Ray to a traditional IRA. Mr. Ray contributed the maximum allowed. Required: a. Compute Ms. Ray's IRA deduction if current year income includes $58,100 salary. b. Compute Ms. Ray's IRA deduction if current year income includes $71,390 salary. c. Compute Ms. Ray's IRA deduction if current year income includes $71,390 salary and $7,650 dividend income. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute Ms. Ray's IRA deduction if current year income includes $71,390 salary. Note: Do not round phase-out percentage. Round other intermediate values to the nearest whole dollar amount. Compute Ms. Ray's IRA deduction if current year income includes $71,390 salary and $7,650 dividend income
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