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McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068 Exercise 60
William is a single writer (age 35) who recently decided that he needs to save more for retirement.His 2011 AGI is $61,000 (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 2011?
b.If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2011?
c.Assuming the same facts as in b.except William's AGI is $75,000, what is the maximum deductible IRA contribution William can make in 2011?
b.If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2011?
c.Assuming the same facts as in b.except William's AGI is $75,000, what is the maximum deductible IRA contribution William can make in 2011?
Explanation
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Individual retirement
Tax payers are al...
McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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