Ms. Ray is age 46 and single. Her employer made a $2895 contribution to her...
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Accounting
Ms. Ray is age 46 and single. Her employer made a $2895 contribution to her qualified profit-sharing plan account, and she made the maximum contribution to her traditional IRA. Compute her IRA deduction if:
a Ms. Ray's $50,000 salary is her only income item.
b Ms. Ray's $65,250 salary is her only income item.
c Ms. Ray's $65,250 salary and $7970 dividend income are her only income items.
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