rcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution? A) $7,000 B) $5,000 C) $6,300 D) $6,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Marcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution?

 

A)

$7,000

 

B)

$5,000

 

C)

$6,300

 

D)

$6,000

Give typing answer with explanation and conclusion 

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