$1$

Eun$-$Jung has a profitable import business she has built over several years of ha

Eun$-$Jung is looking at an Individual $401($k$).$ Complete the following worksheet

Note: Use IF function to display either a "Yes" or $"$No$"$ for Catch$-$up Contributio

$\backslash$table$[[,,,,$Individual $401($k$)],[,$Annual Contribution Limit,,,$69,000],[,$Schedule C Net Income,,,$40,000],[,$Less: $50\%$ Self$-$Employment Tax Deduction,,,$2,826],[,$Sch C Net Income less SE Tax Deduction,,,$37,174],[,20\%$ Employer's Contribution Limit,,,$7,435],[,$Employee's Contribution Limit,,,$22,500],[,$Second Limitation,,,$37,174],[7,,,,],[,$Date of Birth,,,$8/18/1974],[9,$Tax Year End,,,$12/31/2024],[0,$Age of Taxpayer at year end,r$,,50],[1,$Eligible for Catch$-$up Contribution?,,,Yes$],[22,$Maximum Contribution after catch$-$up$,,.44,609,],[23,,,,],[24,$Maximum Contribution,$r,,37,435],[25,,,,]]$