Question1

A 42-year-old unmarried taxpayer has modified income of $66,300. If the taxpayer contributes to her 401(k) plan at work, what is the maximum amount that the taxpayer can both contribute and be able to deduct to her traditional IRA for 2018?

$5,500

$0

$3,685

$1,820

$1,815

$3,690

QUESTION 2

Mike and Deb (ages 49 and 53, respectively) file a joint return. Mike's wages of $105,300 are their only source of income in 2018. Mike contributes to his 401(k) plan at work. If Mike contributes $5,500 to his traditional IRA for 2018, what amount can he deduct?

$5,000

$5,500

$0

$4,320

$5,110

QUESTION 3

Jane, age 38,files as a single taxpayer.In 2018,she reports AGI in the amount of $123,750(all from salary). How much can Jane contribute to her Roth IRA in 2018?

$4,130

$3,750

$1,375

$5,500

$0

$1,750