T11F-Chp-15-3A-Accounting-4220-Code-Analysis-Project-2011F

T11F-Chp-15-3A-Accounting-4220-Code-Analysis-Project-2011F...

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5b87619f0f6506733de6201a121762f22dd12ced.doc. Page 1 of 1 T10-Chp-15-02A-Accounting 4220 Code Analysis Project Problem (Due Date: December 5, 2011) Sue, age 43, is single and has AGI of $64,000. She contributes $5,000 to her IRA in 2011. How much can Sue deduct if she is covered by an employer-sponsored qualified retirement plan? Assignment Please prepare and submit a memo that explains the tax law applicable to Sue’s case involving her IRA contribution for 2011 and any limit on the deductibility of the contribution. You may refer to the textbook or other sources for a non-technical explanation of the rules on which this answer is based. However, an essential element of your memo will be your discussion of the applicability of Code Section 219 to this problem, especially Section 219(g) Limitation on Deduction for Active Participants in Certain Pension Plans. The text of the code is found in T11F-Chp-15-3B-Code Section 219 – or you may get the code from the CCH Service. You should pay close attention to Sec. 219(a),
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