For 2019 and 2020, what is the ceiling for a person under the age of 70 and 1/2 to contribute to an Individual Retirement Account? a. $6,000 (or the $12,00 for spousal IRAs) or 100% of compensation. b. $1,000 annually.
For 2019 and 2020, what is the ceiling for a person under the age of 70 and 1/2 to contribute to an Individual Retirement Account? a. $6,000 (or the $12,00 for spousal IRAs) or 100% of compensation. b. $1,000 annually.
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 24CE
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Question
For 2019 and 2020, what is the ceiling for a person under the age of 70 and 1/2 to contribute to an Individual Retirement Account?
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a. $6,000 (or the $12,00 for spousal IRAs) or 100% of compensation. |
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b. $1,000 annually.
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c. $3,000 annually. |
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d. all of the above. |
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