Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer

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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 2019.  Ed worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2019?

a. $0.

b. $6,000.

c. $7,200.

d. $12,000.

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Related Book For  answer-question

Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

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