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1 answer:
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Answer:
$4,800
Step-by-step explanation:
The maximum contribution for traditional IRA in 2019 = $6000
Given that;
karen has a salary of $33,000 and rental income of $33,000; then total income = $66,000
AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $64,000 – $74,000.
PhaseOut can be calculated as:
=
= 0.2 * 6000
= 1200
Therefore, the maximum amount that Karen may deduct for contributions to her traditional IRA for 2019 = The maximum contribution for traditional IRA in 2019 - PhaseOut
= $6000 - $1,200
= $4,800
Answer:
y = (3/2)x + 8
Step-by-step explanation:
Make it into y = form so...
3x - 2y = -16
-2y = -3x - 16 (subtract 3x from both sides)
y = x + 8 (divide both sides by -2)