Question: Exercise 19-14 (Algorithmic) (LO. 5) Zack, a sole proprietor, has earned income of $47,295 in 2021 (after the deduction for one-half of self-employment tax).

Exercise 19-14 (Algorithmic) (LO. 5) Zack, a sole proprietor, has earned income

Exercise 19-14 (Algorithmic) (LO. 5) Zack, a sole proprietor, has earned income of $47,295 in 2021 (after the deduction for one-half of self-employment tax). What is the maximum contribution Zack may make to a defined contribution Keogh plan? 61,000

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