Peter Is a 20-Year Old College Student Who Is Claimed

question 17

Multiple Choice

Peter is a 20-year old college student who is claimed as a dependent on his parents' tax return.Peter's AGI consists of $12,000 interest and dividend income from a trust fund and $4,180 of wages from a part-time job.Compute Peter's maximum IRA contribution:

• A)$0
• B)$3,000
• C)$4,180
• D)$5,500