rcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution? A) $7,000 B) $5,000 C) $6,300 D) $6,000

rcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution? A) $7,000 B) $5,000 C) $6,300 D) $6,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Marcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution?

$7,000

$5,000

$6,300

$6,000

Give typing answer with explanation and conclusion

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