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How much of your income is subject to taxation

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Question - Suppose you make $40,000 after you graduate from school. You open up a traditional IRA to save for retirement and you make a $4,000 contribution. How much of your income is subject to taxation? If you made the contribution to a Roth IRA, how much of your income is subject to taxation? If you had to choose between a traditional IRA and a Roth IRA, which would you choose? Why?

Reference no: EM133095231

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