Eric age 53 had the following items of income income from a, Finance Basics

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Eric age 53 had the following items of income income from a

Question: Eric, age 53, had the following items of income:

1. Investment returns as a limited partner in a partnership of $1,200.

2. Unemployment compensation of $350.

3. Income from a law practice of $600.

4. Deferred compensation from a former employer of $14,000.

5. Alimony of $750.

6. Wages of $1,000.

What is the maximum contribution Eric can make to an IRA in 2016?

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Finance Basics: Eric age 53 had the following items of income income from a

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Finance Basics: Eric age 53 had the following items of income income from a

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