Dwayne and Cheryl are married filing a joint return with an adjusted gross income (AGI) of $300,000. Dwayne participates in his employer's 401(k) plan, but Cheryl's small employer does not offer a retirement plan. If the 2019 Internal Revenue Service (IRS) limit for contributions to individual retirement accounts (IRAs) is $6,000, what can Cheryl do?<\/p>
a-$6,000 after-tax contribution to traditional IRA<\/p>
b-$0 because their AGI exceeds eligibility<\/p>
c-$6,000 after-tax contribution to Roth IRA<\/p>
d-$6,000 tax-deductible contribution to traditional IRA<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "3662484773", "uri": "\/textbooks\/suizhou-meteorite-mineralogy-and-shock-metamorphism-1st-edition-978-3662484777-290567", "name": "Suizhou Meteorite Mineralogy And Shock Metamorphism", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:50:07", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/cayman-diving-inc-needs-to-acquire-a-new-dive-boat", "description": "Cayman Diving, Inc., needs to acquire a new dive boat. The seller will accept a noninterest- bearing note for $400,000 due in four years or $250,000 in cash. The companys incremental cost of...", "stars": 3 }, { "url": "\/study-help\/psychology\/review-up-to-five-empirical-research-studies-using-questions-for-1980057", "description": "Review up to five empirical research studies using questions for critical analysis of literature reviews.", "stars": 3 }, { "url": "\/castillo-company-reported-these-figures-for-2014-and-2013-", "description": "Castillo Company reported these figures for 2014 and 2013: Requirements 1. Compute Castillo Company's earnings per share for 2014. Assume the company paid the minimum preferred dividend during 2014....", "stars": 3 }, { "url": "\/study-help\/questions\/need-help-with-this-question-please-show-all-of-your-9874380", "description": "Need help with this question, please show all of your work and explain all steps you took to get to your answer thanks. MaxiDrive manufactures a wide variety of parts for recreational boating,...", "stars": 3 }, { "url": "\/study-help\/questions\/please-keep-track-of-your-work-additional-information-work-in-8019372", "description": "Please keep track of your work. Additional information: Work in Process beginning balance - $10,500 Finished Goods beginning balance - $5,600 Prepare the following journal entry (round to the nearest...", "stars": 3 }, { "url": "\/study-help\/questions\/consider-water-originally-a-saturated-liquid-at-100-celsius-the-1024059", "description": "Consider water, originally a saturated liquid at 100 Celsius. The water is heated in an isobaric manner to a saturated vapor state. a. Determine the initial pressure b. Determine the final...", "stars": 3 }, { "url": "\/study-help\/questions\/a-suppose-worker-a-averages-1-0-0-picks-1002159", "description": "A . Suppose worker A averages 1 0 0 picks per hour, worker B averages 6 0 picks per hour, and worker C averages 4 0 picks per hour. If the average order requires 1 0 0 picks would be the average rate...", "stars": 3 }, { "url": "\/study-help\/questions\/after-researching-the-different-forms-of-business-organization-natalie-koebel-5789172", "description": "After researching the different forms of business organization, Natalie Koebel decides to operate \"Cookie Creations\" as a proprietorship. She then starts the process of getting the business running....", "stars": 3 }, { "url": "\/study-help\/questions\/p-61-the-financial-statements-of-an-actual-capital-projects-5469992", "description": "P. 6-1 The financial statements of an actual capital projects fund leave it to the report reader to draw inferences on key transactions. The accompanying statements of the parks, recreations, and...", "stars": 3 }, { "url": "\/study-help\/questions\/an-infinite-solid-circular-cylinder-is-initially-at-a-uniform-1024170", "description": "An infinite solid circular cylinder is initially at a uniform temperature of 150 C. At time t = 0 the temperature around the entire boundary is suddenly reduced to 0C, and maintained thereafter....", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/1-question-1-which-actions-isare-worthy-of-ethical-judgment-4266953", "next": "\/study-help\/questions\/task-2-presentation-of-your-diversity-plan-you-are-to-4266955" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Dwayne and Cheryl are married filing a joint return with an adjusted", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/dwayne-and-cheryl-are-married-filing-a-joint-return-with-4266954" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }