Myers, who is single, reports compensation income of $71,000 in 2019. He is an active participant in
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Myers, who is single, reports compensation income of $71,000 in 2019. He is an active participant in his employer’s qualified retirement plan. Myers contributes $6,000 to a traditional IRA. Of the $6,000 contribution, how much can Myers deduct? See Exhibit 11.3, Phaseout of Traditional IRA Deduction of an Active Participant in 2019.
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Related Book For
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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