In 2014, Tyson (Age 22) Earned $3,500 from His Part-Time

question 76

Short Answer

In 2014, Tyson (age 22) earned $3,500 from his part-time job and he reported $15,000 of interest income (unearned income). Assuming he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution Tyson can make in 2014?

---

Definitions:

Coughing Vigorously

Forceful exhalation through the airways aimed at clearing them of irritants, mucus, or foreign particles.

Abdominal Thrusts

An emergency procedure to expel foreign objects from the airway of a choking victim, also known as the Heimlich maneuver.

Shoulder Blades

The flat, triangular bones located on the back of the shoulders, known anatomically as scapulae.

Child Wading Pool

A shallow pool designed for young children to play in under supervision, often portable and made of plastic.