Sammy, Age 31, Is Unmarried and Is Not an Active

question 156

Multiple Choice

Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2012.The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:

• A)$2,800.
• B)$3,500.
• C)$4,000.
• D)$5,000.
• E)None of the above.

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Definitions:

Interpersonal Conflicts

Disagreements or disputes between individuals resulting from differing views, goals, or values.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.

Traditionals

Refers to the beliefs, customs, practices, and behaviors that are passed down through generations.

Interpersonal Relations

The way in which individuals interact, communicate, and build relationships with each other.