Question: For 2010, Val and Pat White (both age 40) filed a joint return. Val earned $55,000 in wages and was covered by his employers qualified
For 2010, Val and Pat White (both age 40) filed a joint return. Val earned $55,000 in wages and was covered by his employer’s qualified pension plan. Pat was unemployed and received $4,000 in alimony payments for the first four months of the year before remarrying. The couple had no other income. Each contributed $5,000 to an IRA account.
The allowable IRA deduction on their 2010 joint tax return is
a. $10,000
b. $ 9,000
c. $ 8,000
d. $ 5,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
