Question: Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,520 employer contribution to a qualified profit-sharing plan account, and

Ms. Ray is age 46 and single. This year, Mr. Ray's retirement savings included a $2,520 employer contribution to a qualified profit-sharing plan account, and a contribution by Ms. Ray to a traditional IRA. Mr. Ray contributed the maximum allowed.

Required:

Compute Ms. Ray's IRA deduction if current year income includes $50,600 salary.

Compute Ms. Ray's IRA deduction if current year income includes $71,380 salary.

Compute Ms. Ray's IRA deduction if current year income includes $71,380 salary and $7,950 dividend income.

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