John (age 53 and single) has earned income of $3,600. He has $34,600 of unearned (capital gain) income.
a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017?
b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017?
c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017 if he has earned income of $11,600?
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