Carl, age 44, wants to contribute the maximum allowed to a Roth IRA.He is single and his AGI is $124,000.How much can he contribute to the Roth IRA?
A)$6,000
B)$5,200
C)$2,000
D)$800 AGI Phase-Out Ranges for 2019 IRAs
$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Phase-out range }$
$\begin{array}{lcc}
\hline & \text { Single } & \text { Married filing jointly } \
\text { Traditional } & \$ 64,000-\$ 74,000 & \$ 103,000-\$ 123,000 \
\text { Roth } & \$ 122,000-\$ 137,000 & \$ 193,000-\$ 203,000
\end{array}$

Question

Carl, age 44, wants to contribute the maximum allowed to a Roth IRA.He is single and his AGI is $124,000.How much can he contribute to the Roth IRA?
A)$6,000
B)$5,200
C)$2,000
D)$800 AGI Phase-Out Ranges for 2019 IRAs
$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Phase-out range }$
$\begin{array}{lcc} 
\hline & \text { Single } & \text { Married filing jointly } \
\text { Traditional } & \$ 64,000-\$ 74,000 & \$ 103,000-\$ 123,000 \
\text { Roth } & \$ 122,000-\$ 137,000 & \$ 193,000-\$ 203,000
\end{array}$

Quizplus · Accepted Answer

Carl's AGI of $124,000 falls within the Roth IRA phase-out range for singles ($122,000-$137,000). The contribution limit is reduced proportionally within this range.

Carl, Age 44, Wants to Contribute the Maximum Allowed to a Roth