The IRS allows a taxpayer to contribute to a ROTH

Program

The IRS allows a taxpayer to contribute to a ROTH IRA, if his/her income is not over a specified limit and his/her filing status allows contributions.

You will write a program that carries out the logic of a simplified worksheet to determine how much may be contributed to a ROTH IRA.

 Determine if the taxpayer should continue, or if the program should exit.

oIf the taxpayer’s filing status is married filing separately

oAsk if the taxpayer lived with his/her spouse at any time during the year.

(User input can be in either upper or lowercase.)

§ If the answer is no, the taxpayer may not contribute to a ROTH IRA. contribution.

§ Display a message saying so (see Sample 2 Output below) and pause.

§ Then return from main with exit code of 1, to indicate that the program returned before line 1.

§ return 1;

oIf the program did not exit, continue.

 Read and store the taxpayer’s age.

 Perform a test to determine and store the amount for line 1.

 Read and store Adjusted Gross Income for IRA purposes for line 2.

 Determine the line 3 income limit that applies for the filing status entered, and store the result.

oHINT: Store the filing status description in words into a string variable at the same time.

 Display the Worksheet title and the first 3 lines (1 – 3) of the worksheet.

 Perform the line 4 test to determine if the program needs to continue.

oIf line 2 is less than or equal to line 3

§ Display the amount from line 1 on line 9, and pause.

§ Then return from main with exit code of 4, to indicate that the program exited on line 4.

§ return 4;

oIf the program did not exit, continue.

 Perform the necessary calculation for line 4 and store the result.

 Determine the line 5 division amount to use for the filing status entered, and store it.

 Display lines (4 and 5) of the worksheet.

 Perform the necessary calculation for line 6 and store the result.

Perform the line 6 test to determine if the program needs to continue.

If the result is 1.0 or more, taxpayer cannot contribute to a ROTH IRA:

§ Display a message, and pause (see Sample 4 output)

§ Then return from main with exit code of 4, to indicate that the program exited on line 6.

§ return 6;

oIf the program did not exit, continue.

ROTH IRA Contribution Limit Worksheet

Filing Status: Married, Filing Jointly

1. Possible contribution limit: 5500.00

2. Adjusted Gross Income 180330.00

3. Income Limit: 178000.00

4. Amount over Limit: 2330.00

5. Division amount: 10000.00

6. Reduction Percentage: 0.233

7. Reduction Amount: 1281.50

8. Reduced contribution limit: 4220.00

9. Maximum ROTH IRA Contribution Limit 4220.00

 Perform the necessary calculation for line 7 and store the result.

 Call a user-defined function to find the amount for line 8 and store the value returned.

ü The user-defined function will have two input arguments:

theline 1 amount and the line 7 amount

ü The function will subtract line 7 from line 1.

ü The function will round the result to the nearest $10.

Hint: Divide by 10, apply the pre-defined ceil function to the resulting value, and then multiply that by 10.

ü The function will return the result.

ü Examples:

oInput arguments of line 7 = 475 and line 1 = 5500

would return 5030

oInput arguments of line 7 = 500 and line 1 = 6500

would return 6000

ü No other computations should be performed within this function.

 Perform the line 9 test to determine the final contribution limit and store the result.

 Display lines 6 through 9 of the worksheet, making sure that line 6 is displayed to 3 decimal places (see Sample 1 Output below).

Sample 1 Output (no early exit – uses sample inputs 1 from program description)

ROTH IRA Contribution Limit Worksheet

Filing Status: Single

1. Possible contribution limit: 6500.00

2. Adjusted Gross Income 66000.00

3. Income Limit: 112000.00

9. Maximum ROTH IRA Contribution Limit 6500.00

ROTH IRA Contribution Limit Worksheet Program

1 - Single

2 - Married, Filing Jointly

3 - Head of Household

4 - Qualifying Widow(er)

5 - Married, Filing Separately

Enter your filing status from above (1-5): 1

Enter your age: 65

Enter Adjusted Gross Income for IRA purposes: 66000

Contributions to a ROTH IRA are not allowed for taxpayers who:

-File as Married Filing Separately

-Did not live with their spouse for any part of the year.

Therefore, you cannot contribute to a ROTH IRA!

ROTH IRA Contribution Limit Worksheet Program

1 - Single

2 - Married, Filing Jointly

3 - Head of Household

4 - Qualifying Widow(er)

5 - Married, Filing Separately

Enter your filing status from above (1-5): 5

Did you live with your spouse for any part of the year (Y/N)? n

ROTH IRA Contribution Limit Worksheet

Filing Status: Head of Household

1. Possible contribution limit: 5500.00

2. Adjusted Gross Income: 128000.00

3. Income Limit: 112000.00

4. Amount over Limit: 16000.00

5. Division amount: 15000.00

Income too high – You cannot contribute to a ROTH IRA!

ROTH IRA Contribution Limit Worksheet Program

1 - Single

2 - Married, Filing Jointly

3 - Head of Household

4 - Qualifying Widow(er)

5 - Married, Filing Separately

Enter your filing status from above (1-5): 3

Enter your age: 35

Enter Adjusted Gross Income for IRA purposes: 128000

 Make sure there are a couple of blank lines AFTER all input has been entered and BEFORE the worksheet is displayed.

 The filing status should be displayed in words (i.e. not a number), lined up on the right with the figures below it.

 A married filing separately filing status may cause the program to exit without displaying any of the worksheet (see sample 2 above).

 The decision on line 4 may cause skipping the display of lines 4 - 8 (see sample 3 above).

 The decision on line 6 may cause an exit after line 5 (see sample 4 above).

 If neither of the above happens, all lines of the worksheet will be displayed (see sample 1 above).