Question: 12. Sol and Julia Crane (both age 41) are married, and filed a joint return for 2010. Sol earned a salary of $115,000 in 2010

12. Sol and Julia Crane (both age 41) are married, and filed a joint return for 2010. Sol earned a salary of $115,000 in 2010 from his job at Troy Corp., where Sol is covered by his employer’s pension plan. In addition, Sol and Julia earned interest of $3,000 in 2010 on their joint savings account.

Julia is not employed, and the couple had no other income.

On January 15, 2010, Sol contributed $4,000 to an IRA for himself, and $4,000 to an IRA for his spouse. The allowable IRA deduction in the Cranes’ 2010 joint return is

a. $0

b. $4,000

c. $6,000

d. $8,000

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