Michael, who is single, age 20 and claimed by his parents as a dependent, earned...
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Accounting
Michael, who is single, age 20 and claimed by his parents as a dependent, earned $20,000 at the K-M Resort Golf Club during the summer prior to his senior year in college. He wants to make a contribution to a traditional IRA for the tax year 2015, but the amount is dependent on whether it reduces his taxable income.
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