Question: Chanda is 36, single, and an active participant in a qualified employee pension plan. Determine the maximum Roth IRA contribution that she can make in
Chanda is 36, single, and an active participant in a qualified employee pension plan. Determine the maximum Roth IRA contribution that she can make in each of the following cases:
a. Her adjusted gross income for the year is $66,000.
b. Her adjusted gross income for the year is $110,000.
c. Her adjusted gross income for the year is $126,000.
d. Her adjusted gross income for the year is $59,000, and she makes a $3,000 contribution to a deductible IRA account.
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a A single taxpayer with an adjusted gross income of less than 107000 is allowed to make a 5000 nond... View full answer
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