In 2022, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband Dan (47 years old), however, is a Ph.D. student and unemployed. Compute the maximum deductible IRA contribution for each spouse in the following alternative situations.
a) Susan’s salary and the couple’s AGI before any IRA contribution deductions is $207,000. The couple files a joint tax return.
b) Susan’s salary and the couple’s AGI before any IRA contribution deductions is $133,000. The couple files a joint tax return.
c) Susan’s salary and the couple’s AGI before any IRA contribution deductions is $83,000. The couple files a joint tax return.
d) Susan’s salary and her AGI before the IRA contribution deduction is $83,000.
Dan reports $5,000 of AGI before the IRA contribution deduction (earned income). The couple files separate tax returns.