Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer
Question:
Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer pension plan. Cathy earned compensation of $53,000 in 2019. Ed worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2019?
a. $0.
b. $6,000.
c. $7,200.
d. $12,000.
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d 12000 Feedback When one spouse does not earn the maximum contribution amount 600...View the full answer
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Related Book For
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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