Roger and Camilla are both married and file their taxes together. Roger is 31 and Camilla 27.
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Question:
Roger and Camilla are both married and file their taxes together. Roger is 31 and Camilla 27. Their combined income is $113,500.
After analyzing their finances, they concluded that they need to save more for retirement even though they are both part of employer -sponsored retirement plans.
1. What is the maximum deductible contribution they can make to a Traditional IRA?
2. What is the maximum contribution they can make to a Roth IRA?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: