Qualified defined benefit plan and profit sharing plan

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Barry is a single individual who works for Dutch Enterprises, Inc., and is a participant in their qualified defined benefit plan and profit sharing plan. His wages this year was $90,000. While watching the television show of a financial planner who claims to have all the answers for everyone, Barry decides to make a contribution to a traditional IRA of $4,000. How much can Barry take as a tax deduction for his IRA Contribution?

Reference no: EM131256193

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