Myers, who is single, reports compensation income of $68,000 in 2016. He is an active participant in

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Myers, who is single, reports compensation income of $68,000 in 2016. He is an active participant in his employer's qualified retirement plan. Myers contributes $5,500 to a traditional IRA. Of the $5,500 contribution, how much can Myers deduct?

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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities

ISBN: 9780357109144

20th Edition

Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen

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Question Posted: Oct 14, 2016 09:43 AM

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Myers, who is single, reports compensation income of $68,000 in 2016. He is an active participant in

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For 2016 the contribution ceiling is the smaller of 5500 or 11000 for spousal IRAs or 100 of compens...View the full answer

South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities

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