Question: What is the maximum IRA contribution that Josh can make under each of the following assumptions? Required: Josh is age 20 and single. Josh's only

What is the maximum IRA contribution that Josh can make under each of the following assumptions?

Required:

Josh is age 20 and single. Josh's only income item is $13,800 interest from a trust fund.

Josh is age 40 and single. Josh's only income item is a $32,900 share of ordinary income from a partnership.

Josh is age 60 and single. Josh's only income item is $30,000 wages.

Josh is age 46 and files a joint return with a spouse. Josh's sole proprietorship generates a $7,230 loss, and the spouse's salary is $48,500.

Amount
a. Maximum contribution $0
b. Maximum contribution
c. Maximum contribution
d. Maximum contribution

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