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federal and state income tax class QUESTION 9 Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His
federal and state income tax class
QUESTION 9 Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2019. The maximum amount that Sammy can deduct for a contribution to a traditional IRA is: O a. $6,000 b. $3,500 OC $5,000 Od $2,800 QUESTION 10 Kristen's employer owns its building and provides parking space for its employees. The value of the free parking is $150 per month. Karen's employer does not have parking facilities, but reimburses its employee for the cost of parking in a nearby garage, up to $150 per month. a Kristen and Karen must recognize gross income from the parking services b. Neither Kristen nor Karen is required to include the cost of parking in gross income Kristen must include the value of the employer provided parking from her gross income, but Karen can exclude her reimbursement from gross income d. Kristen can exclude the employer provided parking from gross income, but Karen must include her reimbursement in gross income Step by Step Solution
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