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Myers, who is single, reports compensation income of $69,000 in 2020. He is an active participant in his employer's qualified retirement plan. Myers contributes $6,000
Myers, who is single, reports compensation income of $69,000 in 2020. He is an active participant in his employer's qualified retirement plan. Myers contributes $6,000 to a traditional IRA. Exhibit 11.2 Phaseout of Traditional IRA Deduction of an Active Participant in 2020 AGI, Filing Status Single and head of household Married, filing joint return Married, filing separate return Phaseout Begins* $ 65,000 104,000 -0 Phaseout Ends* $ 75,000 124,000 10,000 *These amounts are indexed annually for inflation. Do not round any division. If required, round your answer to the nearest dollar. of the $6,000 contribution, how much can Myers deduct
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