John (age 59 and single) has earned income of $4,800. He has $31,700 of unearned (capital...

John (age 59 and single) has earned income of $4,800. He has $31,700 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 2017?

b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017?

c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017 if he has earned income of $15,300?

Expert Solution

ekkarill92 answered 1 year ago

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