Shyla, 28 years old and a single taxpayer, has a salary of $41,000 and rental income of $33,000 for the 2023 calendar tax year. Shyla is covered by a pension through her employer. AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $73,000 – $83,000. a. What is the maximum amount that Shyla may deduct for contributions to her IRA for 2023?
Shyla, 28 years old and a single taxpayer, has a salary of $41,000 and rental income of $33,000 for the 2023 calendar tax year. Shyla is covered by a pension through her employer. AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $73,000 – $83,000. a. What is the maximum amount that Shyla may deduct for contributions to her IRA for 2023?
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 3P: Karen, 28 years old and a single taxpayer, has a salary of $33,000 and rental income of $33,000 for...
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Shyla, 28 years old and a single taxpayer, has a salary of $41,000 and rental income of $33,000 for the 2023 calendar tax year. Shyla is covered by a pension through her employer. AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $73,000 – $83,000.
a. What is the maximum amount that Shyla may deduct for contributions to her IRA for 2023?
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