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William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2019 AGI is $68,000 (all earned income). (Leave no answer blank. Enter zero if applicable.)If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2019?

Respuesta :

Answer:

The maximum IRA contribution William can make is $6000 a year.

Explanation:

There are limits in the IRA contribution plans to make sure that there are no people benefiting more than others because of their high pay instead limits are per age. if younger than 50 years then Maximum contribution per year is $6000 and if older then it is $7000 it is increasing with age not salary.

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