Maria and Felix are married taxpayers (age 37 and 39) who file a joint return. During...
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Maria and Felix are married taxpayers (age 37 and 39) who file a joint return. During 2022, they each made the maximum contributions to IRA accounts. Maria is covered by an employer-maintained retirement plan while Felix is not covered. Before considering the IRA contributions, they had adjusted gross income of $121,000. Determine their deduction for IRA contributions for 2022. Maria and Felix are married taxpayers (age 37 and 39) who file a joint return. During 2022, they each made the maximum contributions to IRA accounts. Maria is covered by an employer-maintained retirement plan while Felix is not covered. Before considering the IRA contributions, they had adjusted gross income of $121,000. Determine their deduction for IRA contributions for 2022.
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Answer rating: 100% (QA)
To determine the deduction for IRA contributions for Maria and Felix for the tax year 2022 we need to consider their eligibility based on their adjust... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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