Question
Robin (32) is the sole proprietor of a sushi restaurant. In 2022, she made SEP-IRA contributions on behalf of herself and three employees. Her contributions
Robin (32) is the sole proprietor of a sushi restaurant. In 2022, she made SEP-IRA contributions on behalf of herself and three employees. Her contributions were made in the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own SEP IRA. How much will Robin deduct on Schedule 1 (Form 1040), line 15 (Self-employed SEP, SIMPLE, and qualified plans)
$0
$3,500
$6,000
$9,500
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Accounting Concepts And Applications
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
10th Edition
0324376154, 978-0324376159
