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Required information [The following information applies to the questions displayed below.] In 2021, John (age 55 and single) has earned income of $4,500. He
Required information [The following information applies to the questions displayed below.] In 2021, John (age 55 and single) has earned income of $4,500. He also has $31,700 of unearned (capital gain) income. a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2021? Maximum deductible IRA contribution b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2021? Maximum deductible IRA contribution c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2021 if he has earned income of $18,200? Maximum deductible IRA contribution
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