Robin (32) is the sole proprietor of a sushi restaurant. In 2022, she made SEP - IRA contributions on behalf of herself and three employees. Her contributions were made in the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own SEP IRA. How much will Robin deduct on Schedule 1 (Form 1040), line 16 (Self-employed SEP, SIMPLE, and qualified plans) ? $0 $3,500 $6,000 $9,500
Robin (32) is the sole proprietor of a sushi restaurant. In 2022, she made SEP - IRA contributions on behalf of herself and three employees. Her contributions were made in the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own SEP IRA. How much will Robin deduct on Schedule 1 (Form 1040), line 16 (Self-employed SEP, SIMPLE, and qualified plans) ? $0 $3,500 $6,000 $9,500
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 28P
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Transcribed Image Text:Robin (32) is the sole proprietor of a sushi restaurant. In 2022, she made SEP-IRA contributions on behalf of herself and three employees. Her contributions were made in
the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own SEP IRA. How much will Robin deduct on
Schedule 1 (Form 1040), line 16 (Self-employed SEP, SIMPLE, and qualified plans) ? $0 $3,500 $6,000 $9,500
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