In 2012, Madison is a single taxpayer who is 25 years of age. During 2012, she contributed $3,000 to her employer-sponsored 401(k) account. Her 2012 AGI was $62,500 (before considering IRA deductions). What is the maximum deductible contribution, if any, that Madison can make her to IRA?

Answer rating: 100% (QA)

Answer As Madison Participated in the Employee Sponsore... View the full answer