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What is the maximum IRA contribution that Josh can make under each of the following assumptions? Required: Josh is age 20 and single. Josh's only
What is the maximum IRA contribution that Josh can make under each of the following assumptions?
Required:
Josh is age 20 and single. Josh's only income item is $13,800 interest from a trust fund.
Josh is age 40 and single. Josh's only income item is a $32,900 share of ordinary income from a partnership.
Josh is age 60 and single. Josh's only income item is $30,000 wages.
Josh is age 46 and files a joint return with a spouse. Josh's sole proprietorship generates a $7,230 loss, and the spouse's salary is $48,500.
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