Question: Jose does not have a retirement plan at work. He currently earns $ 3 0 , 0 0 0 in salary and is in the

Jose does not have a retirement plan at work. He currently earns $30,000 in salary and is in the 15% marginal tax bracket. If he contributes the maximum contribution of $5,500 to his traditional IRA, how much money will he save on his income tax liability?
A. $5,000
B. He won't save any money, since his income does not qualify for tax deductions for a qualified plan.
C. He won't save any money, since only the Roth IRA has tax deductions on contributions.
D. $825
Jose does not have a retirement plan at work. He

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