Mr Paul, Age 73 and Single, Earned a $150,000 Salary

question 96

Multiple Choice

Mr Paul, age 73 and single, earned a $150,000 salary (AGI) as a university professor. He no longer participates in the university's qualified retirement plan. Which of the following is true?

• A) Mr. Paul can make a $6,500 deductible contribution to a traditional IRA.
• B) Mr. Paul can make a $6,500 nondeductible contribution to a traditional IRA.
• C) Mr. Paul can make a $6,500 nondeductible contribution to a Roth IRA.
• D) Mr. Paul can't make an IRA contribution.