Question

Donald, a 40-year-old married taxpayer, has a salary of $55,000 and interest income of $6,000. He is an active participant in his employer's pension plan. What is the maximum amount Donald can contribute to a Roth IRA in 2019?

Answer 1

Answer:

$6,000

Explanation:

The maximum amount that Donald should contribute to Roth IRA is $6,000

This amount will valid in that case where an individual would have an age within 50

Since Donald has an age of 40 so he is eligible for $6,000

Hence, the same is to be considered

Hence, the maximum amount contributed by Donald is $6,000