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  3. Fundamentals of Taxation 2017
  4. Quiz 11: Retirement and Other Tax-Deferred Plans and Annuities

Gwen Is Age 51,married,and Reported Agi of $101,000 in Tax

Question 84
Multiple Choice

Gwen is age 51,married,and reported AGI of $101,000 in tax year 2016.She is an active participant in her employer's pension plan.What amount of deductible IRA contribution is disallowed in 2016? A)$4,175. B)$825. C)$5,525. D)$975.

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Q 85
DJ is age 27,single,and reported AGI of $69,000 in tax year 2016.He is an active participant in his employer's pension plan.What is the maximum deductible IRA contribution he can make in 2016? A)$4,400. B)$0. C)$5,500. D)$1,100.
Q 86
Patrick is age 30,single,and has AGI of $101,000.He would like to contribute to a Coverdell Education Savings Account CESA)for his niece,Eileen.What is the maximum CESA contribution Patrick can make for Eileen in 2016? A)$2,000. B)$1,500. C)$0. D)$1,200.
Q 87
Chandelle and Treymane are married and have combined AGI of $215,000.They would like to contribute to a Coverdell Education Savings Account for their grandson.What is the maximum contribution they can make in 2016? A)$333. B)$1,667. C)$2,000. D)$0.
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