Question
John (age 51 and single) has earned income of $3,000. He has $30,000 of unearned (capital gain) income. c. If he does not participate in
John (age 51 and single) has earned income of $3,000. He has $30,000 of unearned (capital gain) income.
c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2017 if he has earned income of $10,000?
Deductible IRA contribution: $__________________
($6,000 and $5,000 are both incorrect)
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Company Accounting
Authors: Ken Leo, John Hoggett, John Sweeting, Jennie Radford
8th Edition
0470819731, 978-0470819739
