Tony is 29 years old and single. In 2019, he was covered by a retirement...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Tony is 29 years old and single. In 2019, he was covered by a retirement plan at work. His salary is $88,500. His modified adjusted gross income (MAGI) is $80,000. Tony makes a $6,000 IRA contribution for 2019. What amount of his IRA contribution can Tony deduct on his California tax return?
A. $0 B. $2,500 C. $2,750 D. $5,500
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
