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Problem 19-40 (LO. 4, 6) Janet, age 29, is unmarried and is an active participant in a qualified retirement plan. Her modified AGI is $65,000
Problem 19-40 (LO. 4, 6) Janet, age 29, is unmarried and is an active participant in a qualified retirement plan. Her modified AGI is $65,000 in 2018. Calculate the amount Janet can contribute to a traditional IRA and the amount she can deduct. Click here to access Exhibit 19.3. Do not round intermediate computations. a. Janet can contribute to her traditional IRA, but she can deduct s b. Assume instead that Janet is a participant in a SIMPLE IRA and that she elects to contribute 4% of her compensation to the account, While her employer contributes 3% Janet will contribute vest immediately is to her SIMPLE IRA account. Her employer will contribute . The amount that will
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