Question
4. Amy is single. During 2019, she determined her adjusted gross income was $12,000. During the year, Amy also contributed $1,500 to a Roth IRA.
4. Amy is single. During 2019, she determined her adjusted gross income was $12,000. During the year, Amy also contributed $1,500 to a Roth IRA. What is the maximum saver's credit she may claim for the year?
Multiple Choice
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$750.
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$1,000.
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$1,500.
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$0.
6, Kathy is 48 years of age and self-employed. During 2019, she reported $100,000 of revenues and $40,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k) for 2019? Assume she paid $8,478 of self-employment tax for 2019. (Round your final answer to the nearest whole number.)
Multiple Choice
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$11,152.
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$30,152.
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$36,152.
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$56,000.
13,
Kathy is 60 years of age and self-employed. During 2019, she reported $100,000 of revenues and $40,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k) for 2019? Assume she paid $8,478 of self-employment tax for 2019. (Round your final answer to the nearest whole number.)
Multiple Choice
-
$30,152.
-
$36,152.
-
$56,000.
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