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Author Question: During 2016, Marcia, who is single and is covered under a pension plan at work, contributes $5,500 ... (Read 37 times)

Sufayan.ah

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During 2016, Marcia, who is single and is covered under a pension plan at work, contributes $5,500 into a Roth IRA. If her AGI is $65,000, which of the following is true?
◦ All of the contribution is deductible.
◦ None of the contribution is deductible.
◦ She must withdraw all of the contribution immediately since she is covered under a plan at work.
◦ Only 60% of the contribution is deductible since her AGI exceeds $61,000 by $4,000 and her maximum contribution is phased out by 40%.


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Marked as best answer by Sufayan.ah on Sep 13, 2020

irishcancer18

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Sufayan.ah

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Reply 2 on: Sep 13, 2020
Wow, this really help


31809pancho

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Reply 3 on: Yesterday
:D TYSM

 

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