Jacquiline is unmarried and age 32. Even though she participates in an employer-sponsored retirement plan, Jacquiline contributed $3,300 to a traditional IRA during the year. Jacquiline files as a head of household, her AGI before the contribution is $43,000, and her marginal tax rate is 12 percent. What is the after-tax cost of her $3,300 traditional IRA contribution?
Jacquiline is unmarried and age 32. Even though she participates in an employer-sponsored retirement plan, Jacquiline contributed $3,300 to a traditional IRA during the year. Jacquiline files as a head of household, her AGI before the contribution is $43,000, and her marginal tax rate is 12 percent. What is the after-tax cost of her $3,300 traditional IRA contribution?
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 40P
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Jacquiline is unmarried and age 32. Even though she participates in an employer-sponsored retirement plan, Jacquiline contributed $3,300 to a traditional IRA during the year. Jacquiline files as a head of household, her AGI before the contribution is $43,000, and her marginal tax rate is 12 percent.
What is the after-tax cost of her $3,300 traditional IRA contribution?
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