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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 16
Lance is single and has a traditional IRA into which he has made deductible contributions for several years. This year he changed employers and is now an active participant in his employer's pension plan. His AGI is $80,000. He wants to make a nondeductible contribution to his IRA in the current year. What advice would you give Lance?
Explanation
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A taxpayer who is not eligible to make d...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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