Kyle Is 31 Years Old, Single, Self-Employed, and Has No

question 83

Multiple Choice

Kyle is 31 years old, single, self-employed, and has no qualified pension plan. His net self-employment income is $35,000 and he contributes the maximum amount to his IRA account during the current year. How much can Kyle deduct for AGI this year?

• A)$- 0 -
• B)$1,500
• C)$3,000
• D)$4,000
• E)$5,500

---

Definitions:

Collective Bargaining

A process where employers and representatives of employees negotiate terms of employment, including wages, hours, and working conditions.

Base Wages

The initial or minimum amount paid to an employee for their services, excluding any additional benefits, bonuses, or overtime.

Landrum-Griffin Act

A 1959 United States federal law that regulates labor unions' internal affairs and their officials' relationships with employers.

Labor-Management Reporting

The process and documentation of interactions and negotiations between labor unions and management, including the outcomes of collective bargaining.