Multiple Choice
Susan is a self-employed accountant with a qualified defined contribution plan (a Keogh plan) .She has the following income items for the year: Earned income from self-employment $50,000 Dividend income 8,000 Interest income 2,000 Net short-term capital gain 12,000 Adjusted gross income $72,000 What is the maximum amount Susan can deduct as a contribution to her retirement plan in 2015,assuming the self-employment tax rate is 15.3%?
A) $9,235.
B) $12,000.
C) $46,000.
D) $46,468.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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