Ask Question
BusinessBusiness
30 June, 19:20

Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional IRA rather than a contribution to a Roth IRA? Tax Payer Status Maximum AGI limit Starting phase out limit a. Married filing joint b. Single/Head of household

+1
Answers (1)
  1. 30 June, 19:48
    0
    Answer and Explanation:

    In the year 2018, ROTH IRA contribution limit is $5500 for people less than 50 years of age and $6500 if people are above 50 years of age.

    These are the circumstances in the year 2018:

    (a) ROTH IRA income limits for married filing jointly: Phase out starts at $189000 and ineligible at $199000.

    (b) ROTH IRA income limits for Single filers: phase out starts at $120000 and ineligible at $135000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional IRA rather than a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20, Flounder returns merchandise worth $1100 to Cheyenne.
Answers (1)
On January 1, Pacer Corporation issued $2,000,000, 13%, 5-year bonds with interest payable on July 1 and January 1. The bonds sold for $2,197,080. The market rate of interest for these bonds was 11%.
Answers (1)
A nation's GDP is Multiple Choice C + I + G + (X - M). The sum of value added at some stages of the production process. The total market value of all intermediate goods and services. The total amount of money in circulation.
Answers (2)
Graham Corporation has the excess manufacturing capacity to fill a special order from Nash, Inc. Using Graham's normal costing process, variable costs of the special order would be $15,000 and fixed costs would be $25,000.
Answers (1)
An Scorporation is taxed just like any other corporation. True or false
Answers (1)
New Questions in Business
How did collis p huntington spend his money business wise?
Answers (1)
Shawn loves to snowboard. he enjoys performing aerial tricks after launching off high jumps. the higher in the air he goes and the farther he travels, the better. which theory best explains shawn's motivation to snowboard?
Answers (1)
Since business strategies may change often, compensable factors should rarely be added or deleted. a. True b. False
Answers (1)
Which program is not a cash-transfer program?
Answers (1)
Parties more interested in managerial accounting data than in financial accounting data include
Answers (1)
Home » Business » Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to a traditional IRA rather than a contribution to a Roth IRA? Tax Payer Status Maximum AGI limit Starting phase out limit a. Married filing joint b.
Sign Up Forgot Password?