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1. Who can contribute to a traditional IRA, and how much? Nick, age 53, is...

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Accounting

1. Who can contribute to a traditional IRA, and how much? Nick, age 53, is single and has AGI of $67,000. He contributes $5,000 to his IRA in 2018. How much can Nick deduct if he is not covered by an employer-sponsored qualified retirement plan? How much can Nick deduct if he is covered by an employer-sponsored qualified retirement plan?

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