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Suppose Myra's income is $20,000 and she contributed $500 to her employer's 401K plan. She had zero distributions. A. Calculate the saver's credit for her

Suppose Myra's income is $20,000 and she contributed $500 to her employer's 401K plan. She had zero distributions.

A. Calculate the saver's credit for her qualified retirement savings contribution.

B. Use the information from your textbook on page 7 to help you determine the percentage needed to calculate the credit.

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10.3.0

Credit Rate 50% of your contribution 20% of your contribution 10% of your contribution 0% of your contribution 2020 Saver's Credit Married Filing Jointly Head of Household AGI

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