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49 of 85. Anthony (30) will use the single filing status for 2021. His only income for the year was from wages. In early 2022,
49 of 85. Anthony (30) will use the single filing status for 2021. His only income for the year was from wages. In early 2022, he received the following Form W-2 from his employer. He comes to you to have his taxes prepared, and he tells you he would like to contribute to a traditional IRA for 2021, but only if he is eligible to deduct the amount. He has no other adjustments to income. What is the largest amount Anthony can contribute and deduct if he makes the IRA contribution before the filing deadline? (Answer choices are below the image.) Visit the IRS website at Se file www.irs.gov/efile 2 Federal income tax withheld a Employee's social security number XXX-XX-XXXX Safe, accurate, OMB No. 1545-0008 FAST! Use 1 Wages, tips, other compensation 92,000.00 3 Social security wages 97,000.00 5 Medicare wages and tips 97,000.00 7 Social security tips b Employer identification number (EIN) XX-XXXXXXX c Employer's name, address, and ZIP code OAK CORPORATION 1248 EAST 10TH STREET YOUR CITY, YS XXXXX d Control number 17,836.00 4 Social security tax withheld 6,014.00 6 Medicare tax withheld 1,406.50 8 Allocated tips 10 Dependent care benefits 12a See instructions for box 12 Last name Suff. 11 Nonqualified plans D 5,000.00 13 Statutory Retirement employee plan Third-party sick pay 12b DD 7,639.00 14 Other 12c Employee's first name and initial ANTHONY JONES 6162 SPRINGWATER DRIVE YOUR CITY, YS XXXXX f Employee's address and ZIP code 12d 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 92,000.00 4,600.00 18 Local wages, tips, etc. 19 Local income tax 20 Locality name YS XXXXXXXXX Form W-2 Wage and Tax Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. 2021 Department of the Treasury-Internal Revenue Service
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