Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are

Question:

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 2022 is $207,000, and they earn salaries of $89,000 and $95,000, respectively.

What amount may Carri and Dane:

a. Contribute to regular IRAs?

b. Deduct for their contributions in part (a)?

c. Contribute to Roth IRAs?

d. Deduct for their contributions in part (c)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

Question Posted: