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Required information The following information applies to the questions displayed below. Rita is a self-employed taxpayer who turns 39 years old at the end of

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Required information The following information applies to the questions displayed below. Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2018). In 2018, her net ScheduleC income was $290,000. This was her only source of income. This year, Rita is considering setting up a retirement plan. What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations? a. She sets up a SEP IRA Maximum contribution Required information The following information applies to the questions displayed below.) Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2018). In 2018, her net Schedule C income was $290,000. This was her only source of income. This year, Rita is considering setting up a retirement plan. What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations? b. She sets up an individual 401(k). Maximum contribution

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