Sammy,age 31,is Unmarried and Is Not an Active Participant in a Qualified

question 85

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 2011.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:

Independence

The state of being free from outside control or support, capable of thinking or acting for oneself.

Evidence-Based Research

The process of systematically finding, appraising, and using research findings as the basis for clinical decisions, emphasizing the use of data and scientific results to support practice.

Mental Illness

A broad term for disorders that affect mood, thinking, and behavior, ranging from depression and anxiety to bipolar disorder and schizophrenia.

Self-esteem

This term refers to an individual's overall subjective sense of personal worth or value, affecting how they perceive and value themselves.