Ask Question
BusinessBusiness
20 April, 16:25

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

+4
Answers (1)
  1. 20 April, 16:40
    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?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The federal funds rate A. equals the discount rate. B. only matters to banks and has very little impact on individual consumers. C. is set by the Federal Reserve Bank. D.
Answers (1)
The difference between representative money and fiat money is that?
Answers (1)
Regarding the economy, what are the terms expand and contract generally used to describe?
Answers (1)
An indiana statute on abortion directly conflicts with a federal statute on abortion. the federal statute will make the indiana statute invalid because of the:
Answers (1)
If a family spends its entire budget in a given time frame, the family can afford either 80 cans of beans or 35 frozen pizzas.
Answers (1)
New Questions in Business
Compare transnet with a perfect competitor in terms of price, output and profit
Answers (1)
On January 1, a company purchased a five-year insurance policy for $1,800 with coverage starting immediately.
Answers (1)
How to train employees on principle based decision making?
Answers (1)
Harvey automobiles uses a standard part in the manufacture of several of its trucks. the cost of producing 90,000 parts is $130,000, which includes fixed costs of $70,000 and variable costs of $60,000.
Answers (1)
Gracius Manufacturing is approached by a European customer to fulfill a oneminustimeminusonly special order for a product similar to one offered to domestic customers.
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?