Jacob Patterson cannot make a fully deductible $6,000 IRA contribution because his AGI exceeds the phaseout range.

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Jacob Patterson cannot make a fully deductible $6,000 IRA contribution because his AGI exceeds the phaseout range. Instead, he makes a $3,500 nondeductible IRA contribution to his traditional IRA. Determine how Jacob reports this on his tax return, and complete the appropriate form that he should attach to his Form 1040.

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South-Western Federal Taxation 2020 Essentials Of Taxation Individuals And Business Entities

ISBN: 9780357109175

23rd Edition

Authors: Annette Nellen, James C. Young, William A. Raabe, David M. Maloney

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