Question: Chapter 9 - Question 6 : Help me to explain this question about contribution and what is the maximum deductible IRA contribution? Thank you Sal,

Chapter 9 - Question 6 :

Help me to explain this question about contribution and what is the maximum deductible IRA contribution? Thank you

Sal, single and age 72, is a participant of his employers qualified profit sharing plan. For the current year he received a profit-sharing contribution of $1,200. Sal would like to make a deductible IRA contribution. If Sals AGI is $49,000 (all comprised $15,000 of W-2 earnings, and the rest as Social Security and portfolio income), what is the maximum deductible IRA contribution Sal can make for 2018?

A. $0

B. $3,000

C. $5,500

D. $6,500

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