Which of the following taxpayers qualifies for the maximum individual retirement account deduction for 2016? Married taxpayers,
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Question:
Which of the following taxpayers qualifies for the maximum individual retirement account deduction for 2016?
Married taxpayers, neither of whom is covered by a qualified retirement plan, with a total adjusted gross income, all earned, of $85,000
A single taxpayer, who is covered by a qualified retirement plan, with an adjusted gross income of $80,000
A single taxpayer, who is not covered by a qualified retirement plan, with no earned income but with unearned income of $12,000
Married taxpayers, only one of whom is covered by a qualified retirement plan, with a total adjusted gross income of $195,000
None of the above qualify for the maximum deduction
Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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