Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2018, thei...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2018, their AGI is $191,800. Jackson and Ashley each earned half of the income.
Homework Answers
If both Jackson and Ashley files a joint return then they need to file in between $189,000 to $198,999
so the maximum percentage stands at = ($191,800 - $189,000) / ($198,999 - $189,000)
= $2,800 / $9,999
= 28%
The maximum contribution is $5,500 for 2018 so Ashley can contribute up to $3,960 to Roth IRA ($5,500 * 72/100**) **(100% - 28%).
If Ashley only files a separate return then she can not contribute a single dollar to Roth IRA because her threshould will be between $0 to $9,999 because her age is below 50 years. Hence, her contribution to Roth IRA is $0 when she files individually.
Add Answer to:
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2018, thei...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2018, their AGI is $191,800. Jackson and Ashley each earned half of the income.
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2020, their AGI is $170,000. Jackson and Ashley each earned half of the income. (Leave no cells blank - be certain to enter "0" wherever required.) Problem 6-56 Part a (Static) a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $197,000. Jackson and Ashley each earned half of the income. USE 2019 Tax Rate Schedules a. How much can Ashley contribute to her Roth IRA if they file a joint return? b. How much can Ashley contribute if she files a separate return? c. Assume that Ashley earned all of the couple’s income and that...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $197,000. Jackson and Ashley each earned half of the income. USE 2019 Tax Rate Schedules a. How much can Ashley contribute to her Roth IRA if they file a joint return? b. How much can Ashley contribute if she files a separate return? c. Assume that Ashley earned all of the couple’s income and that...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $175,000. Jackson and Ashley each earned half of the income. (Leave no cells blank - be certain to enter "0" wherever required.) Problem 6-56 Part a a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2014, their AGl is $187,800. Jackson and Ashley each earned half of the income. a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files a separate return? Contribution to Roth IRA c. Assume that Ashley earned all of the couple's...
[The following information applies to the questions displayed below.) Jackson and Ashley Turner (both 45 years...
[The following information applies to the questions displayed below.) Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $197,100. Jackson and Ashley each earned half of the income. Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.) a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a...
Jackson and Ashley Turner (both 45 years old) are married and
want to contribute to a Roth IRA for Ashley. In 2019, their AGI is
$197,100. Jackson and Ashley each earned half of their income.
a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files a separate return? Contribution to Roth IRA c. Assume that Ashley earned all of the couple's...
2019 Tax Rate Schedules Individuals Schedule x Simple Schedule Head of lowed The tax is: Ir...
2019 Tax Rate Schedules Individuals Schedule x Simple Schedule Head of lowed The tax is: Ir taxable income But not own Ir taxable income is But of The tas is! 59,00 10 of taxable income S 0 S 13550 10 of the come $ 0,700 S 39,475 S 13.550 S 52550 S1.355 plus 125 of 5970 plus 12 of the excess over 59,700 S350 5 39,475 54,543 pm 22 of 5 34,200 56,065 plus 225 of 5 52550 554.200 539,475...
Your clients, Carmello and Leslie (ages 34 and 35, respectively) are married and want to contribute...
Your clients, Carmello and Leslie (ages 34 and 35, respectively) are married and want to contribute to a Roth IRA. In 2019, their AGI totaled $42,000 before any IRA-related transactions. Of the $42,000, Carmello earned $35,000 and Leslie earned $7,000. How much can each spouse contribute to a Roth IRA if they file jointly? How much can each spouse contribute to a Roth IRA if they file separately?
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2020, their AGI is $170,000. Jackson and Ashley each earned half of the income. (Leave no cells blank - be certain to enter "0" wherever required.) Problem 6-56 Part a (Static) a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $175,000. Jackson and Ashley each earned half of the income. (Leave no cells blank - be certain to enter "0" wherever required.) Problem 6-56 Part a a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files...
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2014, their AGl is $187,800. Jackson and Ashley each earned half of the income. a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files a separate return? Contribution to Roth IRA c. Assume that Ashley earned all of the couple's...
[The following information applies to the questions displayed below.) Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $197,100. Jackson and Ashley each earned half of the income. Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.) a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How...
Jackson and Ashley Turner (both 45 years old) are married and
want to contribute to a Roth IRA for Ashley. In 2019, their AGI is
$197,100. Jackson and Ashley each earned half of their income.
a. How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA b. How much can Ashley contribute if she files a separate return? Contribution to Roth IRA c. Assume that Ashley earned all of the couple's...
2019 Tax Rate Schedules Individuals Schedule x Simple Schedule Head of lowed The tax is: Ir taxable income But not own Ir taxable income is But of The tas is! 59,00 10 of taxable income S 0 S 13550 10 of the come $ 0,700 S 39,475 S 13.550 S 52550 S1.355 plus 125 of 5970 plus 12 of the excess over 59,700 S350 5 39,475 54,543 pm 22 of 5 34,200 56,065 plus 225 of 5 52550 554.200 539,475...
Most questions answered within 3 hours.
-
Which statement is always true: The total energy of a closed
system...
A) is always equally...
asked 2 minutes ago -
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 2 hours ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 2 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 4 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 6 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 8 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 8 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 9 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 10 hours ago