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In 2020. Tyson (age 56) earned $3,500 from his part-time job and he reported $15,000 of interest income. Assuming he does not participate in an
In 2020. Tyson (age 56) earned $3,500 from his part-time job and he reported $15,000 of interest income. Assuming he does not participate in an employer-sponsored plan, Tyson's maximum traditional IRA contribution is $7,000.
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