Amy Files as a Head of Household

question 14

Multiple Choice

Amy files as a head of household.She determined her 2017 adjusted gross income was $70,000.During the year,she contributed $2,500 to a Roth IRA.What is the maximum saver's credit she may claim for 2017?

• A) $1,000.
• B) $2,000.
• C) $2,500.
• D) $1,250.
• E) $0.

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Definitions:

Earnings Rate

The return on an investment for a specific period, typically expressed as a percentage of the investment's initial cost.

Internal Rate Of Return

A financial metric used to evaluate the profitability of potential investments, calculated as the discount rate that makes the net present value of all cash flows from a project equal to zero.

Useful Life

The period over which an asset is expected to be usable by a company for the purpose of its operations.

Automatic Insertion Machine

Equipment used in manufacturing to automatically place components onto printed circuit boards or other assemblies with precision and speed.