Which of the following statements regarding traditional iras is true? (the lesser of earned income or 5500) a. once a taxpayer reaches age 55 years of age she is allowed to contribute an additional $1,000 a year. b. taxpayers with high income are not allowed to contribute to traditional iras. ctaxpayers who participate in an employer-sponsored retirement plan are allowed to deduct . contributions to a traditional ira regardless of their agi. d. a single taxpayer with no earned income is not allowed to deduct contributions to traditional iras.