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During 2021, Jacob, a 19-year-old full-time student, earned $4,500 during the year and was not eligible to participate in an employer-sponsored retirement plan. The general

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During 2021, Jacob, a 19-year-old full-time student, earned $4,500 during the year and was not eligible to participate in an employer-sponsored retirement plan. The general limit for deductible contributions to an IRA during 2021 is $6,000. How much of a tax-deductible contribution can Jacob make to an IRA? Multiple Choice $0 O O $1,500 O O $4,500 O $6,000

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