Multiple Choice
Kathy is 48 years of age and self-employed.During the year she reported $500,000 of revenues and $100,000 of expenses relating to her self-employment activities.If Kathy has no other retirement accounts in her name,what is the maximum amount she can contribute to an individual 401(k) ?
A) $54,000.
B) $60,000.
C) $77,351.
D) $83,351.
Correct Answer:
Verified
Correct Answer:
Verified
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