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SWFT Corp Partner Estates Trusts

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter19: Family Tax Planning

Section: Chapter Questions

Problem 27P

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please solve account general questions

James, an unmarried student aged 20, had gross income of $22,000
this year. His income consisted of $4,000 in wages and $18,000 in
investment income received from a trust. What is the maximum he
can contribute to an IRA?
a. $5,500
b. $5,000
c. $4,000
d. $0

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