QUESTION E Ellen, age 48, is a single taxpayer. She is self-employed. She has business profit of $50,000. She wants to make the maximum contribution to her SEP IRA How much can she contribute? $9,294 $8.587 $10,000 $9,235

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter13: Tax Credits And Payment Procedures
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QUESTION 8
Ellen, age 48, is a single taxpayer. She is self-employed. She has business profit of $50,000. She wants to make the maximum
contribution to her SEP IRA. How much can she contribute?
$9,294
$8,587
$10,000
$9,235
Transcribed Image Text:QUESTION 8 Ellen, age 48, is a single taxpayer. She is self-employed. She has business profit of $50,000. She wants to make the maximum contribution to her SEP IRA. How much can she contribute? $9,294 $8,587 $10,000 $9,235
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