Mrs.Connelly,a self-employed individual,maintains a defined-contribution Keogh plan.Regardless of the amount of her self-employment income,Mrs.Connelly may contribute $56,000 to the Keogh plan in 2019.

Question

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The contribution limit for a defined-contribution Keogh plan in 2019 is the lesser of $56,000 or 25% of the individual's self-employment income.

MrsConnelly,a Self-Employed Individual,maintains a Defined-Contribution Keogh Plan