Michael is single and 35 years old he is a participant in


Federal Tax Question

Michael is single and 35 years old. He is a participant in his employer’s sponsored retirement plan. How much can Michael contribute to a Roth IRA in each of the following alternative situations?

A) Michael’s AGI is $56,500 after he contributed $4,400 to a traditional IRA.

B) Michael’s AGI is $86,500 before any IRA contributions.

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Financial Accounting: Michael is single and 35 years old he is a participant in
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