Kathy is 60 years of age and self-employed.During the year she reported $100,000 of revenues and $40,000 of expenses relating to her self-employment activities.If Kathy has no other retirement accounts in her name,what is the maximum amount she can contribute to an individual 401(k) ?
A)$28,652
B)$34,152
C)$51,000
D)$56,500

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The Answer of Kathy is 60 years of age and self-employed.During the year she reported $100,000 of revenues and $40,000 of expenses relating to her self-employment activities.If Kathy has no other retirement accounts in her name,what is the maximum amount she can contribute to an individual 401(k) ?
A)$28,652
B)$34,152
C)$51,000
D)$56,500

Kathy Is 60 Years of Age and Self-Employed