Myers, who is single, reports compensation income of $68,800 in 2022. He is an active...
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Myers, who is single, reports compensation income of $68,800 in 2022. He is an active participant in his employer's qualified retirement plan. Myers contributes $6,000 to a traditional IRA.
Click here to access Exhibit 11.2 Phaseout of IRA Deduction of an Active Participant
.Phaseout of Traditional IRA Deduction of an Active Participant in 2022
| AGI, Filing Status | Phaseout Begins | Phaseout Ends |
|---|---|---|
| Single and head of household | $68,000 | $78,000 |
| Married, filing joint return | 109,000 | 129,000 |
| Married, filing separate return | 0 | 10,000 |
Do not round any division. If required, round your answer to the nearest dollar.
Of the $6,000 contribution, how much can Myers deduct? $fill in the blank 1
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