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 2017. Ed worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2017?
a.$0.
b.$5,500.
c.$6,700.
d.$11,000.
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d 11000 When one spouse does not earn the maximum contribution amount 5500 for th...View the full answer
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Related Book For
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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