Carri and Dane ages 34 and 32 respectively have been
Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2014 is $184,000, and they earn salaries of $87,000 and $95,000, respectively. What amount may Carri and Dane?
a. Contribute to regular IRAs?
b. Deduct for their contributions in (a)?
c. Contribute to Roth IRAs?
d. Deduct for their contributions in (c)?
e. Contribute to Coverdell Education Savings Accounts for each of their three children?
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help