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Kendrick Lamar makes $5,500 contribution to his IRA account in the current year. Kendrick is...

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Accounting

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Kendrick Lamar makes $5,500 contribution to his IRA account in the current year. Kendrick is only 31 years old and does not expect to retire until age 65, 34 years from now. What is the proper tax treatment of the $5,500 contribution for Kendrick assuming a traditional IRA and a Roth IRA? OA. Traditional IRA Roth IRA $5,500 Deduction $5,500 Deduction B. Traditional IRA $5,500 Deduction Roth IRA $0 Deduction OC. Traditional IRA $0 Deduction Roth IRA $5,500 Deduction OD. Traditional IRA $0 Deduction Roth IRA $0 Deduction E. Traditional IRA $5,500 Deduction Roth IRA $5,500/34 = $162 Deduction

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