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(The following information applies to the questions displayed below.) William is a single writer (age 35) who recently decided that he needs to save more
(The following information applies to the questions displayed below.) William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2020 AGI before the IRA contribution deduction is $66,000 (all earned income). (Leave no answer blank. Enter zero if applicable.) b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2020? Maximum deductible IRA contribution $ 5,000 c. Assume he does participates in an employer-sponsored plan, and his AGI before the IRA contribution deduction is $76,000. What is the maximum deductible IRA contribution William can make in 2020? Maximum deductible IRA contribution
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