Problem related to traditional ira

Assignment Help Accounting Basics

Reference no: EM13757939

A 42-year-old unmarried taxpayer has two sources of income: taxable wages and interest income of $57,000 and $6,300, respectively. If the taxpayer contributes to her 401(k) plan at work, what is the maximum amount that the taxpayer can both contribute and be able to deduct to her traditional IRA for 2014?

$1,820
$3,690
$3,685
$1,815

Reference no: EM13757939

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