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 $$13,200$ interest from a trust fund.

Josh$$is age $40$ and single. Josh's only income item is a $$31,900$ share of ordinary income from a partnership.

Josh$$is age $60$ and single. Josh's only income item is $$24,200$ wages.

Josh$$is age $46$ and files a joint return with a spouse. Josh's sole proprietorship generates a $$7,720$ loss, and the spouse's salary is $$43,000.$

Required:

How much compensation income does Brianna recognize this year?

What is Lyton Industries$$ book expense for Brianna$$s current compensation?

What is Lyton Industries$$ tax deduction for Brianna$$s current compensation?

Assuming a $21$ percent tax rate, compute Lyton Industries$$ deferred tax asset or deferred tax liability $($identify which$)$ resulting from the compensation expense.