William is a single writer (age 35) who recently decided that he needs to save more for
Question:
William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2016AGI is $65,000 (all earned income).
a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2016?
b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2016?
c. Assuming the same facts as in part (b) except William's AGI is $75,000, what is the maximum deductible IRA contribution William can make in 2016?
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a 5500 Because William is not covered by an employer provided retirement plan his deductible contrib...View the full answer
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Related Book For 
Taxation Of Individuals 2017
ISBN: 9781259548666
8th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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