Question
Scott, age 39, is single and earns $66,000 annually. He participates in his employers retirement plan. Which of the following describes his ability to establish
Scott, age 39, is single and earns $66,000 annually. He participates in his employers retirement plan. Which of the following describes his ability to establish a Traditional IRA and the tax treatment of his contribution for 2017?
1- Scott can make a $5,500 tax deductible contribution to a Traditional IRA
2- Scott can make a $4,400 tax deductible contribution to a Traditional IRA
3- Scott can make a $3,300 tax deductible contribution to a Traditional IRA
4- Scott is not eligible to establish a Traditional IRA, so no deductible contribution can be made
please, can u give me jsut final answer
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