Required information [The following information applies to the questions displayed below.J Reggie is a self-employed...
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Required information [The following information applies to the questions displayed below.J Reggie is a self-employed taxpayer who turns 59 years old at the end of the year (2018). In 2018, his net ScheduleC income was $306,000. This was his only source of income. This year, Reggie is considering setting up a retirement plan What is the maximum amount he may contribute to the self-employed plan in each of the following situations? a. He sets up a SEP IRA. Maximum amount contributed Required information The following information applies to the questions displayed below. Reggie is a self-employed taxpayer who turns 59 years old at the end of the year (2018). In 2018, his net Schedule C income was $306,000. This was his only source of income. This year, Reggie is considering setting up a retirement plan What is the maximum amount he may contribute to the self-employed plan in each of the following situations? b. He sets up an individual 401(k) Maximum amount contributed
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