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Saved Help Save & Exit Submit TABLE 9-2 Rates for Retirement Savings Contributions Credit Check my work Modified Adjusted Gross Income Joint Return Head of Household All Other Filing Status Applicable Percentage Determine the retirement savings contributions credit in each of the following independent cases. Use Over Not Over Over Not Over Over Not Over Table 9-2 $ 0 $ 41,000 S 0 $ 30,750 S 0 $ 20,500 50% Retirement 41,000 44,000 30,750 33,000 20,500 22,000 20% Savings Contributions 44,000 68,000 33,000 51,000 22,000 34,000 10% Credit 68,000 51,000 34,000 0% a A married couple filing jointly with modified AGI of $37.500 and an IRA contribution of $1,800 b. Amarried couple filing jointly with modified AGI of $58,000 and an IRA contribution of $1,900 c Ahead of household taxpayer with modified AGI of $33,000 and Roth IRA contribution of $1,990. d. A single taxpayer with modified AGI of $12,000 and an IRA contribution of $2,800

Saved Help Save & Exit Submit TABLE 9-2 Rates for Retirement Savings Contributions Credit Check my work Modified Adjusted Gross Income Joint Return Head of Household All Other Filing Status Applicable Percentage Determine the retirement savings contributions credit in each of the following independent cases. Use Over Not Over Over Not Over Over Not Over Table 9-2 $ 0 $ 41,000 S 0 $ 30,750 S 0 $ 20,500 50% Retirement 41,000 44,000 30,750 33,000 20,500 22,000 20% Savings Contributions 44,000 68,000 33,000 51,000 22,000 34,000 10% Credit 68,000 51,000 34,000 0% a A married couple filing jointly with modified AGI of $37.500 and an IRA contribution of $1,800 b. Amarried couple filing jointly with modified AGI of $58,000 and an IRA contribution of $1,900 c Ahead of household taxpayer with modified AGI of $33,000 and Roth IRA contribution of $1,990. d. A single taxpayer with modified AGI of $12,000 and an IRA contribution of $2,800

FINANCIAL ACCOUNTING
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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orki Saved Help Save & Exit Submit TABLE 9-2 Rates for Retirement Savings Contributions Credit Check my work Modified Adjusted Gross Income Joint Return Head of Household Determine the retirement savings contributions credit in each of the following independent cases Use Table 9-2 Over 0 Not Over Over Not Over $ 41,000 S 0 $ 30,750 All Other Filing Status Over S O Applicable Percentage Not Over $ 20,500 50% Retirement Savings Contributions 41,000 44,000 30,750 33,000 20,500 22,000 20% 44,000 68,000 33,000 51,000 22,000 34,000 10% Credit 68,000 51,000 34,000 0% A married couple filing jointly with modified AGI of $37.500 and an IRA contribution of $1,800. b. A married couple filing jointly with modified AGI of $58,000 and an IRA contribution of $1.900 c. Ahead of household taxpayer with modified AGI of $33,000 and Roth IRA contribution of $1,990 d. A single taxpayer with modified AGI of $12,000 and an IRA contribution of $2,800.
Transcribed Image Text:orki Saved Help Save & Exit Submit TABLE 9-2 Rates for Retirement Savings Contributions Credit Check my work Modified Adjusted Gross Income Joint Return Head of Household Determine the retirement savings contributions credit in each of the following independent cases Use Table 9-2 Over 0 Not Over Over Not Over $ 41,000 S 0 $ 30,750 All Other Filing Status Over S O Applicable Percentage Not Over $ 20,500 50% Retirement Savings Contributions 41,000 44,000 30,750 33,000 20,500 22,000 20% 44,000 68,000 33,000 51,000 22,000 34,000 10% Credit 68,000 51,000 34,000 0% A married couple filing jointly with modified AGI of $37.500 and an IRA contribution of $1,800. b. A married couple filing jointly with modified AGI of $58,000 and an IRA contribution of $1.900 c. Ahead of household taxpayer with modified AGI of $33,000 and Roth IRA contribution of $1,990 d. A single taxpayer with modified AGI of $12,000 and an IRA contribution of $2,800.
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