Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a

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Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2020, their AGI before any IRA contribution deductions is $50,000. Harriet earned $46,000 and Harry earned $4,000.

a. How much can Harriet contribute to her Roth IRA if they file a joint return?

b. How much can Harriet contribute if she files a separate return?

c. How much can Harry contribute to his Roth IRA if they file separately?

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Taxation Of Individuals And Business Entities 2021

ISBN: 9781260247138

12th Edition

Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham

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Question Posted: Dec 31, 2020 05:50 AM

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Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a

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a 6000 Individuals are allowed to contribute to a Roth IRA as long as their MAGI falls b...View the full answer

Taxation Of Individuals And Business Entities 2021

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