Karen 28 years old and a single taxpayer has a salary what, Accounting Basics

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Karen 28 years old and a single taxpayer has a salary what

Problem

Karen, 28 years old and a single taxpayer, has a salary of $30,000 and rental income of $33,000 for the 2016 calendar tax year. Karen is covered by a pension through her employer.

What is the maximum amount that Karen may deduct for contributions to her traditional IRA for 2016?

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Accounting Basics: Karen 28 years old and a single taxpayer has a salary what

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Accounting Basics: Karen 28 years old and a single taxpayer has a salary what

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