Ask Question
BusinessBusiness
22 October, 07:44

Jennifer's income is too high to qualify for the credit on Form 8880, Credit for Qualified Retirement Savings Contributions. A. TrueB. False

+1
Answers (1)
  1. 22 October, 08:00
    0
    given statement is true

    Explanation:

    solution

    the given statement is true because

    by encouraging, people of the lower income is contributing to their retirement savings account.

    and IRS offers a tax credit for contributions to them for claim the retirement savings credit

    so Jennifer must use IRS form 8880

    and credit percentage decreases as the as AGI increases

    so we can say given statement is true
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jennifer's income is too high to qualify for the credit on Form 8880, Credit for Qualified Retirement Savings Contributions. A. TrueB. False ...” 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
Suppose, you sold an apartment house by accepting $1,000,000 down and monthly payments of $15,000 per month for 10 years.
Answers (1)
Jane, 14, is in 8th grade and lives with her mom, Mary, who is a disabled veteran, and her father, Frank, who is also disabled. They live in a trailer in the woods, which has electricity, water, and plumbing but is just barely habitable.
Answers (1)
A corporation declared and issued a 15% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings $ 750,000 Shares issued and outstanding 60,000 Market value per share $ 15 Par value
Answers (1)
One limitation of the comparable worth policy is that it targets single employers, ignoring that men and women tend to work for different employers. A. True B. False
Answers (1)
Kelly owns a massage studio and is offering free 15-minute massages to the participants of a popular 5K race event. This is an example of co-branding. bartering. co-sponsoring. advertising
Answers (2)
New Questions in Business
If the average cost of transporting a passenger on the train from Chicago to St. Louis is $75, it would be irrational for the railroad to allow any passenger to ride for less than $75. True/False
Answers (1)
Beasley, Inc., reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 350,000 Income tax expense $ 36,000 Interest expense 13,000 Cost of goods sold 120,000 Salaries expense 35,000 Advertising expense 25,000
Answers (1)
Minimum wage laws have the smallest effect on which segment of the labor force? a. low-skilled labor b. teenagers c. skilled workers d. unemployed workers
Answers (1)
A retailer buys a painting for $200. she sets the selling price at $450. when the painting doesn't sell after two months, she raises the price to $800 to appeal to a different market. the painting sells for $800 the next day.
Answers (1)
Kathy Brooks is a franchisee who wishes to donate her old HRB workstations and server to a local charity for a fundraising auction.
Answers (1)
Home » Business » Jennifer's income is too high to qualify for the credit on Form 8880, Credit for Qualified Retirement Savings Contributions. A. TrueB. False
Sign Up Forgot Password?