John (age 59 and single) has earned income of $4,200. He has $36,700 of unearned (capital gain) income.


a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2013?

b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2013?

c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2019 if he has earned income of $19,200?

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Answer:

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Explanation:

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