Ask Question
20 April, 16:25

Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional IRA rather than a contribution to a Roth IRA? Tax Payer Status Maximum AGI limit Starting phase out limit a. Married filing joint b. Single/Head of household

+4
Answers (1)
  1. 20 April, 16:40
    0
    Answer and Explanation:

    In the year 2018, ROTH IRA contribution limit is $5500 for people less than 50 years of age and $6500 if people are above 50 years of age.

    These are the circumstances in the year 2018:

    (a) ROTH IRA income limits for married filing jointly: Phase out starts at $189000 and ineligible at $199000.

    (b) ROTH IRA income limits for Single filers: phase out starts at $120000 and ineligible at $135000.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional IRA rather than a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers