Question
10. Donnie, age 49, had the following items of income: -Investment returns as a limited partner in a partnership of $1,200. -Income from Municipal Bond
10. Donnie, age 49, had the following items of income:
-Investment returns as a limited partner in a partnership of $1,200.
-Income from Municipal Bond Portfolio of $100,000.
-Income from an accounting practice of $600.
-Earnings as a general partner in a partnership of $400.
-Wages of $1,000.
Donnie also contributed $1,000 to his Roth IRA during the year. What is the maximum deduction Donnie may take for a traditional IRA contribution for 2022?
a. $1,000 b. $2,000 c. $7,000 d. $6,000
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Principles Of Food Beverage And Labor Cost Controls
Authors: Paul R. Dittmer, J. Desmond Keefe
8th Edition
0471429929, 978-0471429920
