Carlos and Angela are married, file a joint return, and are both 42 years old. During the current year, Carlos’s salary is $70,000. Neither Carlos nor Angela is covered by an employer-sponsored pension plan. Determine the maximum IRA contribution and deduction amounts in each of the following cases:
a. Angela earns $28,000, and their adjusted gross income is $98,000.
b. Angela does not work outside the home, and their adjusted gross income is $75,000.
c. Assume the same facts as in part a, except that Carlos is 52, Angela is 48, and both are covered by an employer-sponsored pension plan.
d. Assume the same facts as in part a, except that Carlos is covered by an employer sponsored pension plan.