B. $450000 [ Max deferral possible is 25% of the total compensation of 1.8 millions]
48. Ryan (age 50) is employed by Best Mutual Funds (BMF) and participates in its profit-sharing...
peter molloy is considering making a contribution to an IRA, but his employer has a profit-sharing plan. Plan benefits vest over 6 years, and peter is 60% vested. The employer made no contribution to the plan for the year. No employees have terminated during the year. Which of the following statements concerning Peter’s contribution to an IRA is correct? peters contribution will not be deductible because contributions are not required every year to profit-sharing plan. Peters contribution will be deductible...