Question
Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective 401(k) plans offered through their employers. The AGI reported on the couple's joint
Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $42,000. Determine their credit for retirement plan contributions (the Saver's Credit). Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $ 1,160 X.
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South-Western Federal Taxation 2019 Individual Income Taxes
Authors: James C. Young, William H. Hoffman, William A. Raabe, David M. Maloney, Annette Nellen
42nd Edition
978-1337702546
