Question
Problem 13-70 (LO 13-4) (Algo) Skip to question [The following information applies to the questions displayed below.] Michael is single and 35 years old. He
Problem 13-70 (LO 13-4) (Algo)
Skip to question
[The following information applies to the questions displayed below.]
Michael is single and 35 years old. He is a participant in his employer's sponsored retirement plan. How much can Michael contribute to a Roth IRA in 2020 in each of the following alternative situations?(Leave no answers blank. Enter zero if applicable.)
a.Michael's AGI before the IRA contribution deduction is $55,500. Michael contributed $3,300 to a traditional IRA.
CONTRIBUTION to Roth IRA
b.Michael's AGI is $85,500 before any IRA contributions.
CONTRIBUTION to Roth IRA
c.Michael's AGI is $140,500 before any IRA contributions.
CONTRIBUTION to Roth IRA
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