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He is not a participant in any retirement plans at work

Question - Charles, a single 29-year-old CEO of a technology start-up company, earns a $2 million base salary with a $400,000 bonus. He is not a participant in any retirement plans at work. What is the maximum deductible IRA contribution Charles can make during 2017?

a. $0.

b. $1,000.

c. $4,000.

d. $5,500.

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Accounting Basics: He is not a participant in any retirement plans at work

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Accounting Basics: He is not a participant in any retirement plans at work

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