Phil and Linda are 25-year-old newlyweds and file a joint tax return. Linda is covered by a retirement plan at work, but Phil is not.
a. Assuming Phil's wages were $27,000 and Linda's wages were $18,500 for 2012 and they had no other income, what is the maximum amount of their deductible contributions to an IRA for 2012?
Phil $___________
Linda $_________
b. Assuming Phil's wages were $49,000 and Linda's wages were $64,000 for 2012 and they had no other income, what is the maximum amount of their deductible contributions to an IRA for 2012?
Phil $__________
Linda $_________

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Fm8582 spatt of the nformation about Passive Activity Loss Limitations OMB No 1545-1008 2012 Attach to Form 1040 or Fonm 1041. and its instructions is Identitying mumbe Part I Caution: Complete Worksheeds 1, 2, and 3 before Part Rental Real Estate Activities With Active Participation (For the definition of active participation, see Special Allowance for Rental Real Estate Activities in the instructions. a ActMities with net income (anter the amount from Worksheet1 column (al b Activities with net loss (enter the amount from Worksheet 1, column o Prior years unallowed losses (enter the amount from Worksheet 1, d Combine Ines 1a. 1b, and 1c Commercial Revitalization Deductions From Rental Real Estate Activities 2a Commercial revitalization deductions from Worksheet 2, column (a b Prior year unalowed commercial revitalization deductions from Wonkaneer 2, column(o Add lines 2a and 2b G All Other Passive Activities 3a Activities with net income (enter the amount from Worksheet 3, column (a b Activities with net loes (enter the amournt from Worksheet 3, column c Prior years unallowed loeses (enter the amount from Worksheet 3, d Column (cl) Combine line8 3d your returm; all losses are allowed, including any prior yeer unalowed loesee entered on ine 1c 2b, or 3c. Report the losses on the forms and schedules nomally used If line 4 is a loss and Line 1d is a loss, go to Part Il. Line 2c is a loss (and line 1d is zero or mone), skip Part Il and go to Part III. Line 3d is a loss (and lines 1d and 2c are zero or more), skip Parts Il and Iill and go to ine 15. Caution: If your tiling status is mamied Ming separately and yau bved with your spouse at any time dwning the year, do not campiete Part N or Part W. istead, go to line 15 Part II Special Allowance for Rental Real Estate Activities With Active Participation Note: Enter aV numbers in Part I as positive arnounts. See instructions for an exarple Enter the smallor of the loss on line 1d or the loes on line 4 6 Enter $150,000. I married filing separately, see instructions Emter modfied adjushed grass income, but not less than zero (see instrucons)7 Note: Ir ine 7 is greater than or equal to Nne 6, skio nes 8 and 9 enter-0-an Nne 70. Otherwise, go to ine & Subtract line 7 from line 6 Multiply ine 8 by 50% 5a Do not enter more than $25,000. If married fing separately, see instructions Enter the smaller of line 5 or line 9 If line 2c is a loss, go to Part IIl. Otherwise, go to Ine 15 8 9 10 9 10 Part Ill Special Allowance for Commercial Revitalization Deductions From Rental Real Estate Activities Note: Enter aW numbers in Part as positive amounts See the example for Part M in the instructions 11 Enter $25,000 reduced by the amount, if any, on line 10. I married filing separately, see instructions 11 2 Enter the loss from line 4 13 Reduce line 12 by the amount on line 10 4 Enter the smallost of line 2c (treated as a positive amount), line 11, or line 13 12 13 14 Part IV Total Losses Allowed Add the income, if ary,on lines 1a and 3a and enter the total 16 Total losses allowed from all passive activities for 2012. Add Ines 10, 14, and 15 See 15 nstructions to find out how to report the losses on your tax returm 16 For Paperwork Reduction Act Notice, see instruotions. Cat. No. 8337 04 Form 8582 (2o12