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What is maximum deductible IRA contribution John can make

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Reference no: EM133087740

Question - In 2021, John (age 53 and single) has earned income of $3,600. He also has $34,600 of unearned (capital gain) income.

If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution John can make in 2021 if he has earned income of $11,600?

Reference no: EM133087740

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