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Each taxpayer is covered by an employer retirement plan in 2023. Choosing from the listed...

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Accounting

Each taxpayer is covered by an employer retirement plan in 2023. Choosing from the listed scenarios, who may qualify for a full deduction of their traditional IRA contribution?
Baxter, who files single with modified adjusted gross income of $78,025.
Crispin, who is filing a joint return as a qualifying surviving spouse with modified adjusted gross income of $104,000.
Declan, who files head of household with modified adjusted gross income of $74,500.
Jake, who files a joint return with Betsy, with modified adjusted gross income of $126,225.
19 years old, is not a full-time student, and earned $4,850 in wages.
21 years old, is a full-time student for six months, and earned $5,650 in wages.
22 years old, is a part-time student for four months, and earned $7,425 in wages.
25 years old, is a full-time student for six months, and earned $8,850 in wages.

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