in 2023, LeSean (age 54 a

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 13-67 (LO 13-4) (Algo)
[The following information applies to the questions displayed below]
In 2023, LeSean (age 54 and single) has earned income of $3,600. He also has $32,200 of unearned (capital gain)
income.
Problem 13-67 Part c (Algo)
c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution LeSean can make in
2023 If he has earned income of $12,000?
Maximum deductible IRA contribution
Transcribed Image Text:Problem 13-67 (LO 13-4) (Algo) [The following information applies to the questions displayed below] In 2023, LeSean (age 54 and single) has earned income of $3,600. He also has $32,200 of unearned (capital gain) income. Problem 13-67 Part c (Algo) c. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution LeSean can make in 2023 If he has earned income of $12,000? Maximum deductible IRA contribution
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