Required: Compute the AGI on their joint return if AGI before an IRA deduction is $154,000. Compute the AGI on their joint return if AGI before an IRA deduction is $204,600
Required: Compute the AGI on their joint return if AGI before an IRA deduction is $154,000. Compute the AGI on their joint return if AGI before an IRA deduction is $204,600
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 38P
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Transcribed Image Text:Mr. Gilbert is self-employed and makes annual contributions to a Keogh plan. Mrs. Gilbert's employer
doesn't offer any type of qualified retirement plan. Each spouse contributes $3,100 to a traditional IRA.
Required: Compute the AGI on their joint return if AGI before an IRA deduction is $154,000. Compute the
AGI on their joint return if AGI before an IRA deduction is $204,600
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