Andrew and Eunice are married filing jointly with AGI of $48,000. They contributed $1,800 to a qualified retirement plan. How much is their retirement savings contributions credit? Multiple Choice $1,800. $900. $180. $0.
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Andrew and Eunice are married filing jointly with AGI of $48,000. They contributed $1,800 to a qualified retirement plan. How much is their retirement savings contributions credit?
-
$1,800.
-
$900.
-
$180.
-
$0.
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- Virginia and Richard are married taxpayers with adjusted gross income of $28,000 in 2019 If Virginia is able to make a $1,500 contribution to her IRA and Richard makes a $1,500 contribution to his IRA, what is the Saver's Credit Virginia and Richard will be eligible for? $0 $1,500 $2,000 $3,000 $4,000Vickie and her husband Jason have been married for 25 years and are planning to retire this year. Jason's PIA is $2,000. Renee's PIA is $800. Assuming they are both full retirement age, what is their maximum joint retirement benefit under Social Security? $3,000 $2,800 $2,000 O $4,000Rafael and Lucy, married taxpayers, each contribute $3,400 to their respective § 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $40,100. Determine their credit for retirement plan contributions (the Saver's Credit). Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $ Feedback Check My Work 3,400 X Taxpayers may claim a nonrefundable credit for certain retirement plan contributions based on eligible contributions to certa retirement plans, such as traditional and Roth IRAs and § 401(k) plans.
- Rafael and Lucy, married taxpayers, each contribute $3,250 to their respective § 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $38,900. Determine their credit for retirement plan contributions (the Saver's Credit). Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $ 0 X.Ruben and his wife Nicky have been married for 25 years and are planning to retire this year. Jason's PIA is $2,000. Renee's PIA is $800. Assuming they are both full retirement age, what is their maximum joint retirement benefit under Social Security? $3,000 $4,000 $2,000 $2,800Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective § 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $38,000. Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $
- Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective § 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $42,000. Determine their credit for retirement plan contributions (the Saver's Credit). Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2023, their AGI is $224,500. Jackson and Ashley each earned half of the income. Note: Leave no answers blank. Enter zero if applicable. Problem 13-73 Part a (Algo) . How much can Ashley contribute to her Roth IRA if they file a joint return? Contribution to Roth IRA $ 1,800Owen, who is single, contributed $6,500 to his Roth IRA for 2023. He had MAGI of $17,000 for 2023 and used the single filing status. Owen has never taken a distribution from a retirement plan. What is his maximum retirement savings credit for 2023? 1. $0. ii. $200. ili. $1,000. iv. $2,000.
- Chandelle and Treymane are married and have a combined AGI of $215,000. They would like to contribute to a Coverdell Education Savings Account for their grandson. What is the maximum contribution they can make in 2019? $1,667. $333. $0. $2,000.Question 27 of 50. Mark and Carrie are married, and they will file a joint return. They both work full-time, and their 2021 income totaled $89,000, all from wages. They have one dependent child, Aubrey (5). During the year, they spent $9,000 for Aubrey's child care. Neither Mark nor Carrie received any dependent care benefits from their employer. What amount may they use to calculate the Child and Dependent Care Credit? $0 $3,000 $8,000 $9,000 Mark for follow upBernie is a former executive who is retired. This year Bernie received $192,500 in pension payments and $19,600 of social security payments. What amount must Bernie include in his gross income? Multiple Choice 1. $192,500. 2. $202,300. 3. $209,160. 4. $212,100. 5. Zero.
