Susan is a self-employed accountant with a qualified defined contribution plan (a Keogh plan).She has the following income items for the year: Earned income from self-employment $50,000 Dividend income 8,000 Interest income 2,000 Net short-term capital gain 12,000 Adjusted gross income $72,000 What is the maximum amount Susan can deduct as a contribution to her retirement plan in 2015,assuming the self-employment tax rate is 15.3%?

Question

Susan is a self-employed accountant with a qualified defined contribution plan (a Keogh plan).She has the following income items for the year: Earned income from self-employment $50,000 Dividend income 8,000 Interest income 2,000 Net short-term capital gain 12,000 Adjusted gross income $72,000 ​ What is the maximum amount Susan can deduct as a contribution to her retirement plan in 2015,assuming the self-employment tax rate is 15.3%?

Quizplus · Accepted Answer

The Answer of Susan is a self-employed accountant with a qualified defined contribution plan (a Keogh plan).She has the following income items for the year: Earned income from self-employment $50,000 Dividend income 8,000 Interest income 2,000 Net short-term capital gain 12,000 Adjusted gross income $72,000 ​ What is the maximum amount Susan can deduct as a contribution to her retirement plan in 2015,assuming the self-employment tax rate is 15.3%?

Susan Is a Self-Employed Accountant with a Qualified Defined Contribution