The $2000 contribution to an IRA should be treated as an An adjustment to income in arriving at adjusted gross income.
<h3>The reason Hall has to go with this option</h3>
The individuals that are not in a retirement plan of a company have the option of deducting their cash contributions to their own retirement accounts.
They are able to do this given that the money is 6000 dollars or a hundred percent of their gross income.
Taxes are not paid on interest in this type of account till the earnings from the retirement plan is distributed.
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Answer:
state and federal taxation
Explanation:
<span>In calculating the bank discount when discounting an interest bearing note, the one that is not used in calculation is: D. Discount period
Here is the equation that used in interest bearing note:
The Principle proceeds + bank discount = Maturity Value
Discount period only determines the amount of time vendor willing to pay for a product in cash.</span>
