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A 59 year old employee, earning $60,000 per year is enrolled in only one 401K plan (a traditional 401K). What is the maximum tax deductible

A 59 year old employee, earning $60,000 per year is enrolled in only one 401K plan (a traditional 401K). What is the maximum tax deductible amount this employee can contribute to his 401K in 2020?

a. $19,500

b. $60,000

c. $26,000

d. $37,500

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