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1. Nick, age 53, is single and has AGI of $67,000. He contributes $5,000 to his IRA in 2018. How much can Nick deduct if

1. Nick, age 53, is single and has AGI of $67,000. He contributes $5,000 to his IRA in 2018.

How much can Nick deduct if he is not covered by an employer-sponsored qualified retirement plan?

How much can Nick deduct if he is covered by an employer-sponsored qualified retirement plan?

Who can make a deductible IRA contribution? How much?

2. George has $91,700 in salary from his full-time position and $43,000 in net income in 2018 from his sole proprietorship. What is his self-employment tax? What portion of this can he deduct?

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