Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2019, their AGI before any
IRA contribution deductions is $50,000. Harriet earned $46,000 and Harry earned $4,000. (Leave no answer blank. Enter zero if applicable.) a. How much can Harriet contribute to her Roth IRA if they file a joint return?
Contribution Roth IRA ?
b. How much can Harriet contribute if she files a separate return?
Contribution Roth IRA ?
c. How much can Harry contribute to his Roth IRA if they file separately?
Contribution Roth IRA ?
Contribution Roth IRA ?
b. How much can Harriet contribute if she files a separate return?
Contribution Roth IRA ?
c. How much can Harry contribute to his Roth IRA if they file separately?
Contribution Roth IRA ?
1 answer:
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Answer:
Explanation:
Given data:
Amount of currency held = $1347 billion
checkable deposit $1347 billion
saving deposit $8189 billion
small time deposit $400 billion
market fund $709 billion
Saving deposit in the form M2 and M1
M_1 = currency held as individual and traveller check + checkable deposit
= $1347 + $1764
M_2 = M_1 + saving deposit _ time deposit + maket funds
= $3111 + $8189 + $400 + $709