Skills Warm Up: Employer Retirement PlansQuestion 2 of 5Annette, age 26 is single. She earned $23,000 last year and her modified adjusted gross income is $24,500. Annette is covered by her employer's retirement plan. She made a $500 contribution to her traditional IRA. Can she deduct her IRA contribution from her taxable income? Click here to view Table 1 for reference. |