Rita is 66 years old. She earned $20,000 this year working part-time a

Rita is 66 years old. She earned $20,000 this year working part-time at a store and her modified adjusted gross income was $28,000. Rita is considering making a $3,000 contribution to her traditional IRA.

Which of the following statements is true regarding this contribution?
A) Rita cannot contribute to her traditional IRA because she is over age 65.
B) Rita can make a $3,000 contribution to her traditional IRA, but it is not tax deductible.
C) Rita can make a $3,000 contribution to her traditional IRA, but it is only partially tax deductible.
D) Rita can make a $3,000 contribution to her traditional IRA, and it is fully tax deductible.

ANSWER

Answer: D