In the current year Chanda is 36, single, and an active participant in a qualified employee pension

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In the current year 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 $125,000.

c. Her adjusted gross income for the year is $139,000.

d. Her adjusted gross income for the year is $65,000, and she makes a $3,500 contribution to a deductible IRA account.

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Concepts In Federal Taxation 2021

ISBN: 9780357141212

28th Edition

Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg

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Question Posted: Nov 18, 2020 12:12 AM

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In the current year Chanda is 36, single, and an active participant in a qualified employee pension

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a Maximum contribution is 6000 A single taxpayer with an adjusted gross income of less than 124000 i...View the full answer

Concepts In Federal Taxation 2021

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