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Required information [The following information applies to the questions displayed below.] Hope is a self-employed...

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Accounting

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Required information [The following information applies to the questions displayed below.] Hope is a self-employed taxpayer who turns 54 years old at the end of the year (2019). In 2019, her net Schedule C income was $130,000. This was her only source of income. This year, Hope is considering setting up a retirement plan. What is the maximum amount Hope may contribute to the self-employed plan in each of the following situations? (Round your intermediate calculations and final answers to the nearest whole dollar amount.) a. She sets up a SEP IRA. Maximum contribution Required information [The following information applies to the questions displayed below.] Hope is a self-employed taxpayer who turns 54 years old at the end of the year (2019). In 2019, her net Schedule C income was $130,000. This was her only source of income. This year, Hope is considering setting up a retirement plan. What is the maximum amount Hope may contribute to the self-employed plan in each of the following situations? (Round your intermediate calculations and final answers to the nearest whole dollar amount.) b. She sets up an individual 401(k). Maximum contribution

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