Which of the Following Taxpayers Qualifies for the Maximum Individual

question 17

Multiple Choice

Which of the following taxpayers qualifies for the maximum individual retirement account deduction for 2016?

• A)Married taxpayers, neither of whom is covered by a qualified retirement plan, with total adjusted gross income, all earned, of $85,000
• B)A single taxpayer, who is covered by a qualified retirement plan, with adjusted gross income of $80,000
• C)A single taxpayer, who is not covered by a qualified retirement plan, with no earned income but with unearned income of $12,000
• D)Married taxpayers, only one of whom is covered by a qualified retirement plan, with total adjusted gross income of $195,000
• E)None of the above qualify for the maximum deduction

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