Kathy is 48 years of age and self-employed. During 2023 she reported $120,000 of revenues and $48,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a SEP IRA for 2023? Note: Round your final answer to the nearest whole number. Multiple Choice $19,883 $66,000 $88,200 $13,383
Kathy is 48 years of age and self-employed. During 2023 she reported $120,000 of revenues and $48,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a SEP IRA for 2023? Note: Round your final answer to the nearest whole number. Multiple Choice $19,883 $66,000 $88,200 $13,383
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 18
![Kathy is 48 years of age and self-employed. During 2023 she reported $120,000 of revenues and $48,000 of expenses relating to her self-employment
activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a SEP IRA for 2023?
Note: Round your final answer to the nearest whole number.
Multiple Choice
$19,883
O $66,000
$88,200
O $13,383](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5947874-4428-4f4c-a6ad-e82c5546a151%2Fb1e7e0b4-aad2-49d0-9d18-1836a682f6e7%2Frzaagnq_processed.png&w=3840&q=75)
Transcribed Image Text:Kathy is 48 years of age and self-employed. During 2023 she reported $120,000 of revenues and $48,000 of expenses relating to her self-employment
activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a SEP IRA for 2023?
Note: Round your final answer to the nearest whole number.
Multiple Choice
$19,883
O $66,000
$88,200
O $13,383
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