Venkat is age 32, single, and reported AGI of $67,000 inn tax last year 2018. He is an active participant in this employer's pension plan. What is the maximum deductible IRA contribution get can make in 2018? 

Max retired in 2018 at age 62. During the year he received distribution of $9,000 from his IRA. He made nondeductible contributions of $20,000 to the IRA in prior years and has never received a nontaxable distribution. As of December 31, 2018, the value of his IRA was $150,000. Calculate the tax portion

Answer rating: 100% (QA)

For Venkat the maximum deductible IRA contribution he can make in 2018 is 5500 since he is under t... View the full answer