Question $11$

A participant in a $401(k)$ plan under the age of $50$ may contribute up to what amount in $2020?$

$$57,000$

$$13,500$

$($C$)$ $$6,000$

$($D$)$ $$19,500$

Question $12$

Thomas is a self$-$employed plumber under the age of $50.$ His earnings from self$-$employment, before the Keogh deduction but after deducting $$alf of the self$-$employment tax, are $$80,000.$ What is his deductible Keogh contribution for $2020?$

$$16,000$

$$57,000$

$($C$)$ $$20,000$

$($D$)$ $$64,000$

Question $13$

Generous Corporation provides a SIMPLE plan for its employees. Under the plan, employees can contribute up to $6\%$ of their salary, and Generous Corporation will natch each employee's contribution up to $3\%$ of the employee's salary. Erika is an employee of Generous Corporation and elects to contribute $6\%$ of her $$60,000$ salary o the SIMPLE plan. What is the total contribution made to her SIMPLE account?

$$3,600$

$$1,800$

$$12,500$

$($D$)$ $$5,400$

Question $14$

ack is single and age $53.$ He reported AGI of $$72,000$ in $2020.$ He is an active participant in his employer's pension plan. What is the maximum deductible IRA contribution he can make for $2020?$

$$6,000$

$$4,900$

$$7,000$

$($D$)$ $$2,100$

Question $15$

Patrice is single and age $26.$ She reported AGI of $$69,000$ in tax year $2020.$ She is an active participant in her employer's pension plan. What is he maximum deductible Roth IRA contribution she can make for $2020?$

$($A$)$ $$3,600$

$($B$)$ $$0$

$($C$)$ $$6,000$

$($D$)$ $$2,400$