Alexander works as an electrician at a small company that provides no retirement benefits. He receives a

Question:

Alexander works as an electrician at a small company that provides no retirement benefits. He receives a salary of $45,000. In addition, Alexander operates a small roof repair service as a sole proprietorship; this business has a net loss of $2,500. In addition, Alexander realizes $800 of net income from rental property and $1,500 in interest income. What is Alexander's earned income for determining the amount he is eligible to contribute to an IRA?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

Question Posted: