Hello, my single-member LLC's net profit in 2017 was $4,920 (Form 1040, line 12). Self employment tax was $695 (Form 1040, line 32). I had no other earned income, and I have just one traditional IRA to which I have not yet made any contribution for 2017. No special situations apply to me (for instance, I am not a reservist). I am over age 50.
What is the maximum I can contribute to my traditional IRA for 2017 given these facts? Thanks very much!
