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 2020? A. $1,220 B. $3,000 C. $610 D. $6,000 E. $550

Answer 1

Answer:

the lowest limit in 2020 for Roth IRA was$5,500 for age below 50