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Kathy is 60 years of age and self-employed. During 2022, she reported $534,000 of revenues and $106,800 of expenses relating to her self-employment activities. If
Kathy is 60 years of age and self-employed. During 2022, she reported $534,000 of revenues and $106,800 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k) for 2022? Assume she pays $29,111 in self-employment for 2022.
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