In 2021, John (age 54 and single) has earned income of $5,100. He also has...
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Accounting
In 2021, John (age 54 and single) has earned income of $5,100. He also has $30,100 of unearned (capital gain) income.
If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2021 if he has earned income of $16,400?
Answer is complete but not entirely correct. Maximum deductible IRA contribution $ 6,500
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