Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional ira rather than a contribution to a roth ira? tax payer status maximum agi limit starting phase out limit a. married filing joint b. single/head of household

Answer and Explanation:

In the year 2018, ROTH IRA contribution limit is $5500 for people less than 50 years of age and $6500 if people are above 50 years of age.

These are the circumstances in the year 2018:

(a) ROTH IRA income limits for married filing jointly: Phase out starts at $189000 and ineligible at $199000.

(b) ROTH IRA income limits for Single filers: phase out starts at $120000 and ineligible at $135000.

answernet income for 2017 will be greater if the inventory quantity declines;