Question: A,B,C and D Required information Problem 13-87 (LO 13-6) (Static) [The following information applies to the questions displayed below] Desmond is 25 years old, and
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Required information Problem 13-87 (LO 13-6) (Static) [The following information applies to the questions displayed below] Desmond is 25 years old, and he participates in his employer's 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond's saver's credit in each of the following alternative scenarios? (Use Exhibit 13-8) Note: Leave no answer blank. Enter zero if applicable. Problem 13-87 Part a (Static) a. Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $40,000. Required information Problem 13-87 (LO 13-6) (Static) [The following information applies to the questions displayed below.] Desmond is 25 years old, and he participates in his employer's 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond's saver's credit in each of the following alternative scenarios? (Use Exhibit 13-8) Note: Leave no answer blank. Enter zero if applicable. Problem 13-87 Part b (Static) b. Desmond is not married and has no dependents. His AGl after deducting his 401(k) contribution is $17,500. Required information Problem 13-87 (LO 13-6) (Static) [The following information applies to the questions displayed below.] Desmond is 25 years old, and he participates in his employer's 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond's saver's credit in each of the following alternative scenarios? (Use Exhibit 13-8) Note: Leave no answer blank. Enter zero if applicable. Problem 13-87 Part c (Static) c. Desmond files as a head of household and has an AGI of $44,000. Required information Problem 13-87 (LO 13-6) (Static) [The following information applies to the questions displayed below.] Desmond is 25 years old, and he participates in his employer's 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond's saver's credit in each of the following alternative scenarios? (Use Exhibit 13-8) Note: Leave no answer blank. Enter zero if applicable. Problem 13-87 Part d (Static) d. Desmond and his spouse file jointly and report an AGI of $30,000 for the year. EXHIBIT 13-8 2023 Applicable Percentages for Saver's Credit by Filing Status and AGI
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