Problem 5-3 Individual Retirement Accounts (LO 5.3) Karen, 28 years old and a single taxpayer, has a salary of $33,000 and rental income of $33,000 for the 2020 calendar tax year, Karen is covered by a pension through her employer. AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $65,000 - $75,000. a. What is the maximum amount that Karen may deduct for contributions to her traditional IRA for 2020? 4,800 x