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Compute what is maximum deductible keogh contribution

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Reference no: EM132763021

Problem 1: Puri is a self-employed Spanish teacher. Her earnings from self-employment before the Keogh deduction but after deducting half of the self-employment tax are $120,000. What is her maximum deductible Keogh contribution for 2019?

Option 1: $30,000.

Option 2: $96,000.

Option 3: $24,000.

Option 4: $56,000.

Reference no: EM132763021

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