The Maximum Contribution Amount for the Retirement Savings Contributions Credit

question 36

True/False

The maximum contribution amount for the retirement savings contributions credit for each tax year is 20% of a taxpayer's AGI.

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Definitions:

Effective Punishment

A disciplinary measure that is immediate, consistent, and proportionate to the behavior, leading to the desired change in behavior.

Consistent

Characterized by conformity to the same principles or course of action over time.

Immediate

Occurring or done at once; instant.

Related

Being connected or associated with, especially by blood or marriage, or in context, pertaining to related subjects or themes.